Ann: Ceasing to be a substantial holder, page-4

Seems that with this whole saga there are Winners & Losers

1) Winner No 1 - the Dornauf Family and the deal they did with OnCard..whereby part payment for Meander Valley business was in TFL/ONC shares....valued at 18 Cents a share - 1,666,667 of them.

2 ) Winner No 2 - Tasfoods...just perhaps they got the business at a good price..without having to fork out too much of that precious company cash....only $1.8M instead of $2.1M....(ie. with the $300,000 part payment in ONC/TFL shares )

3) And the Looser - Mug retail shareholders that don't know any better and follow the pack and bought into the deal when the Dornauf's were selling ..and simply got sold into the emotive aspect of holding a share of such a huge historic property in idyllic Tasmania with a cows & a dairy business for which the sentiment is hot in the marketplace at this/that point in time.

Hindsight is a wonderful thing hey! - Lets all hope more deals can be done that are value accretive for the company & so the shareholders.