largest unitholder still on the fence as of monday as to voting....

largest unitholder still on the fence as of monday as to voting. If he votes against and only 50% of units voted, the 75% required vote goes down ( and the growers have wasted their time attending tonights meeting at 7 Pm at berri and further iwi unitholders funds have been wasted in working up a proposal which could not be passed without 75% of the vote , which would not be possible if the largest couple of shareholders voted against), and iwi remains listed.

newest director was several weeks ago ignorant of related party transactions re the unlisted mis (managed investment scheme), and the investment in unlisted nvfa which at one stage comprised est. $7 million of iwi unitholders funds , without any approval of the iwi unitholders.

One of the proposed directors continuing forward was one of the directors at all times.

The growers , have only themselves to blame for not stopping supporting of this wine grape growing mis, which has partly caused the oversupply of wine grapes and stuffed the wine grape growing business in the riverland.

Selling down at present prices, partly for tax reasons and dont like unlisted structures which are controlled by people who in my opinion have little competence or credibility and have past history of doing deals with related and associated parties without approval from unitholders.

May buy back in if still listed, iwi units are available and discount to my view of value is sufficient.