Building insurance finalised for $5.9m

The Company announced on April 1 that it had agreed with its insurer to a sum of $4.2 million to
cover the replacement cost of houses destroyed by the 2019-20 bushfires, and that an agreement had yet to be reached in
relation to sheds.
The Company now announces that it has agreed to a total of $5.9 million to cover the
replacement cost of fire-damaged houses and sheds. The final progress payment of $1
million was received today.
Proceeds from this insurance policy were not included in the December 2019 accounts.
Progress payments already received from this building insurance – and the separate treecrop
insurance – have been used to extinguish the Company’s debt. The payment announced
today from the building insurance, and the remaining treecrop insurance, will be used to fund
future operations of the company.
Further announcements will be made as the Company settles its various remaining
insurance and legal claims.