Ann: Appendix 3Y (Raphael Geminder), page-2

On April 11th, RG had an interest in 300,891,901 shares (87.3949%). In the 10 days from April 12th to April 21st (inclusive), RG has only accumulated 26,557 shares. RG currently holds 87.40% and still needs to acquire ~8,942,590 shares to reach 90%.

Minority shareholders are in a very positive position. Based on the rate of accumulation over the past couple of months and the share registry data, it remains evident that it is highly unlikely that RG can reach 90%.

Assuming the offer is extended, it provides shareholders with a guaranteed minimum share price throughout the remainder of the offer period. If the offer expires, then minority holders continue to remain shareholders with significant potential for upside in the future.