Ann: Investor Presentation-AHF.AX, page-113

My view holds even if the share price went up to 54 cents...they are risks and need to be mitigated or removed. Still like the business but there are some thing that need addressing, soon, and the longer they are left unaddressed the worst it will get.

Operationally it looks exciting, no doubt about that and the initial idea as pushed by Adrian 2-3 years ago is absolutely valid today and in the intermediate future as was written in a dairy blog a few years ago. These guys are living it.

But the governance, market communications and shareholder communications has shown to be less than optimal and they are the nub of what most investment houses look at, unless a price trader or hedge fund of course.

The historical conservative position taken by the company was correct for the time but stepping away from being a pure dairy farm aggregator and acquiring CDC changed the rules, changes their strategy and increases the pace which in turn requires a more robust framework.