ATM - A2 Milk Corporation Limited

[Sideshow Bob]

Bad PR. Fonterra must be loving the limelight on someone else!

https://www.stuff.co.nz/business/farming/107334695/a2-market-value-plunges-450m-in-wake-of-ceo-share-selloff

[bull....]

finish on the lows would be bad

[minimoke]

$24m in trades on the NZX so far today. Its been a while since we have had that sort of volume go through. Brokers will be happy.

[see weed]

HaHa let's get all PC and Nanny state then and say "That Herd Licker person".Lol.
As Frank would say to Betty......I'm a maaan, and not going to sell any of my a2 shares to any man or woman, I want to wait for it to come up again, while rubbing his hand up and down his outer thigh:).

[Raz]

$24m in trades on the NZX so far today. Its been a while since we have had that sort of volume go through. Brokers will be happy.

Classic day only on the NZ exchange..try doing this in the US and watch the share price move and the SEC move just as quick.. soon after regardless of the reasons..be onto you in a heart beat..the heat would mean you would have looked at alternatives.. :)

[Baa_Baa]

finish on the lows would be bad

Sell down was not as substantial as I had expected, might've dodged a bullet? See how ASX closes and whether follow on tomorrow. Mainstream media still pumping out the news.

[Beagle]

That is a very herdest statement. Not all animal in herds are lickers. Cows do. Elephants dont. Please refrain from making anti-herd generalisations - it will only get you in trouble.

LOL too funny...we need a bit of humour on a day like today what with so many people with such blatantly obvious short agenda's and all.

[winner69]

Jayne sell $5m shares and market cap is down $500m

She sure has made an impact eh

[minimoke]

Jayne sell $5m shares and market cap is down $500m

She sure has made an impact ehSynlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time?

[Beagle]

Synlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time?

Market can be a fickle and frustrating beast at times but no worries mate because we didn't buy them to hold for one day did we and remember the old cliché "Rome wasn't built in a day " :)

[couta1]

Synlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time? Troughers don't give a second thought for peasants like us, as long as they can live their upmarket lifestyle then all is good and dandy.PS-I reckon her actions are unprecedented in a CEO.

[Balance]

Synlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time?

Grudging,y admit she did the right thing selling the whole lot last week when she did - the short term damage was done anyway.

[minimoke]

Grudging,y admit she did the right thing selling the whole lot last week when she did - the short term damage was done anyway.Her perilous personal financial woes aside. I'm not sure how selling 100% of her shares after being in the job a couple of months could ever be regarded as the right thing.

[Blue Skies]

Synlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time?


What I don't understand is, this was so predictable, what does it say about judgement?
Did they really think this wouldn't happen, OR if they did, that it didn't matter?

[Balance]

Her perilous personal financial woes aside. I'm not sure how selling 100% of her shares after being in the job a couple of months could ever be regarded as the right thing.

Rephrase - better she sold the whole lot last week rather than through an extended period. Her selling the shares so early in her CEO term is IMO unforgivable.

[Baa_Baa]

Rephrase - better she sold the whole lot last week rather than through an extended period. Her selling the shares so early in her CEO term is IMO unforgivable.

Agree, and I don't blame her apart from her shortsightedness, I blame the board and Chair for a shonky deal signing her up for a entry bonus that she could shaft shareholders confidence anytime she chose to. Unbloodybelieveable. And the back story of shareholder dilutions filling these Execs pockets with easy money.

[777]

Should be an interesting AGM. A vote of no confidence in the directors and CEO would sure shake things up.

[Lewylewylewy]

She probably looked at the SP, and like of shares she had and thought "oooh nice payout for only a couple of months work. The high PE probably helped the decision, and the extra shares to come.

Isn't it great when you have a board member whose interests don't align with the shareholders?

[Timesurfer]

On the other hand - if this keeps up they will be almost within my reach!

[Baa_Baa]

She probably looked at the SP, and like of shares she had and thought "oooh nice payout for only a couple of months work. The high PE probably helped the decision, and the extra shares to come.

Isn't it great when you have a board member whose interests don't align with the shareholders?

Her interests align exactly with shareholders, just hold long enough to make obscene profits and get out. Only she had to hold for only a couple of months whereas us mugs have to invest years in the game.

Still don't know whether she's read the tea leaves and said to herself, 'hey this puppy is way over priced, I'm going to strip my winnings now rather that wait for god knows how long for it to catch up'.

She smashed around 1/2 billion in capital value today at the expense of shareholders, I hope she's very frightened about her future and I also hope the Board and the Chair are also reflecting in particular on in their ineptitude enabling this to happen.

Disc: not short. But pretty bloody pizzed off about it!

[RupertBear]

Her interests align exactly with shareholders, just hold long enough to make obscene profits and get out. Only she had to hold for only a couple of months whereas us mugs have to invest years in the game.

Still don't know whether she's read the tea leaves and said to herself, 'hey this puppy is way over priced, I'm going to strip my winnings now rather that wait for god knows how long for it to catch up'.

She smashed around 1/2 billion in capital value today at the expense of shareholders, I hope she's very frightened about her future and I also hope the Board and the Chair are also reflecting in particular on in their ineptitude enabling this to happen.

Disc: not short. But pretty bloody pizzed off about it!

Well said Baa Baa

[minimoke]

What I don't understand is, this was so predictable, what does it say about judgement?
Did they really think this wouldn't happen, OR if they did, that it didn't matter?Yup - you got me there. Didn't see an announcement at 5:10 on a Friday night after market closed that all shares has been sold within 2 months of getting them. My bad!

[couta1]

Her perilous personal financial woes aside. I'm not sure how selling 100% of her shares after being in the job a couple of months could ever be regarded as the right thing. HaHa perilous personal finances, poor dear was only making 154k/week at Jetstar not really enough to save anything for a rainy day.

[Snow Leopard]

She strikes me as a really smart cookie.

She would have got less for her shares if she had sold them today.

[minimoke]

HaHa perilous personal finances, poor dear was only making 154k/week at Jetstar not really enough to save anything for a rainy day.
Do you think she's OK. I wonder if we should set up a GiveALittle page

[longy]

She strikes me as a really smart cookie.

She would have got less for her shares if she had sold them today.

SP was on the way up, she should have got more $$$ if she sold them today. :)

[couta1]

Do you think she's OK. I wonder if we should set up a GiveALittle page I don't reckon so, we already gave her 4 mill worth of shares and she turned around and took 600 mill off us, not ladylike at all.

[longy]

I don't reckon so, we already gave her 4 mill worth of shares and she turned around and took 600 mill off us, not ladylike at all.

What is the possibility that the result will be a cracker at the next round of announcement?

[Muppett]

What is the possibility that the result will be a cracker at the next round of announcement?

Why would it be a cracker?
It might depend on where the company is actually at in terms of its business life cycle.

[allfromacell]

What is the possibility that the result will be a cracker at the next round of announcement?

I think it's very likely. Demand is still unbelievably high and IF is sold out everywhere in ANZ. The american market is tracking well but the short term performance is all about China where sales are booming, this is shaping up to be a record singles day event too. The fundamentals are more compelling now then ever, the new CEO selling out does throw a spanner in the works but I feel she will make up for it with a surprising trading update at the AGM.

I was hoping to get some more at $9AUD awhile back but just missed out... Should have just caught the bloody knife. Now is a good time to top up imo and have done so today.

[longy]

I think it's very likely. Demand is still unbelievably high and IF is sold out everywhere in ANZ. The american market is tracking well but the short term performance is all about China where sales are booming, this is shaping up to be a record singles day event too. The fundamentals are more compelling now then ever, the new CEO selling out does throw a spanner in the works but I feel she will make up for it with a surprising trading update at the AGM.

I was hoping to get some more at $9AUD awhile back but just missed out... Should have just caught the bloody knife. Now is a good time to top up imo and have done so today.

It is a case of if you are a believer or not about A2. I am still holding on and tempting to buy more. But probably will wait for the dust to settle a bit more.

I have caught the falling knife many times some worked out ok other times got cut deep. The one knife which got me real deep was XRO. Who could have thought!

[winner69]

I was one who thought the outbursts over Jayne selling her shares was overdone

But Mike Hosking says it’s a strange move and not a good look. If Mike says so it must be and I’ve changed my mind

[couta1]

I was one who thought the outbursts over Jayne selling her shares was overdone

But Mike Hosking says it’s a strange move and not a good look. If Mike says so it must be and I’ve changed my mind Really winner, you need Hosking to change your mind, her tax bill is not due until July 2019 which further highlights her status of a Trougher by selling ALL her shares now, she clearly is inept at handling her personal finances, the question is can we trust her at the helm of an 8 billion dollar company?

[visionary]

Synlait also down 4.3%. Think we can blame Jayne for that as well.
Has anyone single handled destroyed so much shareholder wealth in such a short time?

Yes, I am an avid and strict A2 supporter, however I sold out of A2 (only because I saw greater short term opportunity in a fairly stagnant news cycle for A2) on August 27 (yes, I missed a big jump and that was my personal failure but bought in at $10.55 so it wasn't too bad).

Like you, I also identified the SML fall and attributed it to "market spill over", the market perhaps considering (right or wrong, as is the debate here) that the seller in discussion sold for purposes other than specified on her filing and in so sensing potential weakness in the sector. I bought into SML yesterday, to capture the market when it realises the move was likely unrelated to the SML business.

I would expect stocks to continue to sell off today, though not to the degree they did yesterday. It was a down index in EU and US yesterday, and the remainder of the NZX and ASX have little to discuss in broad terms of the caliber of the actions of the seller in discussion.

[bull....]

some one suggested i was scraping the bottom of the barrel when i suggested the high court ruling in regard to re opening the chinese steel could be a negative factor for a2

suggest you have a read as other people consider it a threat as well

When allegations arose two years ago of subsidised Chinese steel entering New Zealand, suggestions were made in China that any imposition of penalty duties on the imports could threaten the flow of New Zealand dairy products to the Chinese market," chief executive Bruce Kohn said.​

https://www.stuff.co.nz/business/industries/107334763/reopening-of-steel-inquiry-risks-chinese-tension

it is a potential negative worth keeping in the back of your mind

[Beagle]

Really winner, you need Hosking to change your mind, her tax bill is not due until July 2019 which further highlights her status of a Trougher by selling ALL her shares now, she clearly is inept at handling her personal finances, the question is can we trust her at the helm of an 8 billion dollar company?

Who's the dog gnawing on bones now lol...you'll have to change your user handle name to some type of dog if you keep this up :) P.S. The cutest dog name is already taken but Terrier is pretty cute.

Thanks Bull but my glasses and eyes are working just fine, you don't need the super duper shouty sized font. We all know you're short but its getting more than a little repetitive.

[Lego_Man]

some one suggested i was scraping the bottom of the barrel when i suggested the high court ruling in regard to re opening the chinese steel could be a negative factor for a2

suggest you have a read as other people consider it a threat as well

When allegations arose two years ago of subsidised Chinese steel entering New Zealand, suggestions were made in China that any imposition of penalty duties on the imports could threaten the flow of New Zealand dairy products to the Chinese market," chief executive Bruce Kohn said.​

https://www.stuff.co.nz/business/industries/107334763/reopening-of-steel-inquiry-risks-chinese-tension

it is a potential negative worth keeping in the back of your mind


Hard to feel sorry for the Chinese re: Trump's tariffs etc. They're quite happy to flex their own economic muscle when it suits them, in order to screw a better deal.

[nizzy]

good heavens, the CEO selling her sign-on share allocation is a hiccup, nothing more. The big elephant is the forthcoming change in Chinese Regs targetting Daigou and E-commerce selling channels. Is a risk to ATM given such a large % of IF sales are thru Aust based Daigou. Ref last week Craigs update on ATM where they downgraded from a buy to hold. Over reliance on the grey channel has always always worried the smart money about China IF trade.

[silu]

This makes me angry every time I look at it "A2 Milk declined to comment on the executive share sales."

[bull....]

good heavens, the CEO selling her sign-on share allocation is a hiccup, nothing more. The big elephant is the forthcoming change in Chinese Regs targetting Daigou and E-commerce selling channels. Is a risk to ATM given such a large % of IF sales are thru Aust based Daigou. Ref last week Craigs update on ATM where they downgraded from a buy to hold. Over reliance on the grey channel has always always worried the smart money about China IF trade.

correct huge regulatory risk until its finalised , hence why they didnt give any guidance and i dont expect any at the agm either. probably disappoint a few leading to a bad day as well.

[Muppett]

I'm not a big fan of these off-shore "hybrid" AGM's. How can I get my cup of tea and scones which I always consider to be part of my Special Dividend? Christchurch trumps Melbourne any day of the week.

What exactly is a hybrid AGM?
Can shareholders attend?
The AGM is set for 20 Novemeber in Melbourne, time and venue still to be confirmed.
TJ probably factored in her share sell off with the notice to announce the AGM.

[Beagle]

good heavens, the CEO selling her sign-on share allocation is a hiccup, nothing more. The big elephant is the forthcoming change in Chinese Regs targetting Daigou and E-commerce selling channels. Is a risk to ATM given such a large % of IF sales are thru Aust based Daigou. Ref last week Craigs update on ATM where they downgraded from a buy to hold. Over reliance on the grey channel has always always worried the smart money about China IF trade.

You "conveniently overlooked mentioning Craigs valuation of $13.50

[winner69]

You "conveniently overlooked mentioning Craigs valuation of $13.50

I thought you threw such reports in the rubbish ...like the SML (I think) one the other day

[minimoke]

See Blackkrock now holds a little over 5%. At least someone has faith.

[Beagle]

I thought you threw such reports in the rubbish ...like the SML (I think) one the other day

That was from Macquarie private wealth...take their consistently bearish view on SML with a grain of salt.

[bull....]

See Blackkrock now holds a little over 5%. At least someone has faith.

probably not happy though they brought a s..t load on the 21st

[mfd]

probably not happy though they brought a s..t load on the 21st

21st was index rebalancing day, right? BlackRock probably don't care either way, just goes into their passive index funds.

[Lego_Man]

See Blackkrock now holds a little over 5%. At least someone has faith.


Never understand the point of these posts. A company by definition has shareholders at any given time, even if it goes to zero.

Secondly, Blackrock are predominantly an index or passive provider, and are completely insensitive to price or valuation of a stock. They just buy mechanically.

[couta1]

Who's the dog gnawing on bones now lol...you'll have to change your user handle name to some type of dog if you keep this up :) P.S. The cutest dog name is already taken but Terrier is pretty cute.

Thanks Bull but my glasses and eyes are working just fine, you don't need the super duper shouty sized font. We all know you're short but its getting more than a little repetitive. Just took a leaf out of the Chronicles of Heartland and decided to go all dog like a certain Beagle did a while back.

[nizzy]

oversight. Mystifies me why broker would downgrade but keep valuation well above current price. Illogical or lazy.
Disc: hold ATM and positive, excellent execution to date plus a good dose of luck. Over reliance on daigou channel flashes red as critical risk. Which ATM mgmt will be very aware of.

[minimoke]

Never understand the point of these posts. A company by definition has shareholders at any given time, even if it goes to zero.

Secondly, Blackrock are predominantly an index or passive provider, and are completely insensitive to price or valuation of a stock. They just buy mechanically.If its good enough to be a NZX market announcement its good enough for me.

They may be passive but its 5% of stocks no longer available to others.

[winner69]

Shareprice higher then when Jayne commenced ...and going higher today

One could say Jayne is indeed increasing shareholder value

[Muppett]

Shareprice higher then when Jayne commenced ...and going higher today

One could say Jayne is indeed increasing shareholder value

Even if the SP goes North to $12, $13, $14 ... she is still a trougher.
Once a trougher, always a trougher.
She has done FA since she started to suddenly be increasing shareholder value.

[Balance]

Shareprice higher then when Jayne commenced ...and going higher today

One could say Jayne is indeed increasing shareholder value

True! True?

[Beagle]

Lipstick to cover up all those snout abrasions from having an over vigorous workout in the trough over a two day period.

Classic !!!

[couta1]

Even if the SP goes North to $12, $13, $14 ... she is still a trougher.
Once a trougher, always a trougher.
She has done FA since she started to suddenly be increasing shareholder value. Exactly, she hasn't increased anything but her own personal wealth, any SP increase is coming from all the other beavers who have been working their butts off for a long time now.

[Beagle]

A trougher all right. Behind the paywall article on NBR today saying she has a long history of selling shares very shortly after they're allocated to her while at JetStar. This is good because it shows that she is selling simply because she can't help herself be a trougher and there's nothing more too it than that.

[Baa_Baa]

A trougher all right. Behind the paywall article on NBR today saying she has a long history of selling shares very shortly after they're allocated to her while at JetStar. This is good because it shows that she is selling simply because she can't help herself be a trougher and there's nothing more too it than that.

So when those performance and time-based rights vest, we can expect her to dump them on market as well. Great :t_down:

[Muppett]

A trougher all right. Behind the paywall article on NBR today saying she has a long history of selling shares very shortly after they're allocated to her while at JetStar. This is good because it shows that she is selling simply because she can't help herself be a trougher and there's nothing more too it than that.

But what value did she add to Jetstar in her time there?
It's a crap airline/service.

[bull....]

aussies not happy , will they take it down to support at 10.55

[minimoke]

So when those performance and time-based rights vest, we can expect her to dump them on market as well. Great :t_down:
She'll have the advantage of an insider's knowledge on timing that sell off. Maybe she could let us know before hand

[Beagle]

So when those performance and time-based rights vest, we can expect her to dump them on market as well. Great :t_down:


NBR article referred to a very consistent pattern of behavior. She clearly feels that the issue of shares is part of her remuneration package and she has no qualms whatsoever about cashing shares in whenever it suits her and as mentioned that's always been very shortly after the shares vest. I think its clear she feels no natural affinity whatsoever with the shareholders she represents. Some would call her a cold and calculating.... JetStar is a really crappy brand as far as I am concerned. Have I mentioned before how much I miss Goeff Babbage already ?

[winner69]

......
She clearly feels that the issue of shares is part of her remuneration package and she has no qualms whatsoever about cashing shares in whenever it suits her .....

What’s wrong with doing that. It’s her pay and nothing to do with anybody else.

probably asked for her pay in cash but no the Board said you need to take shares/rights

Nothing to do with commitment / affinity to the company

Maybe it’s the size of remuneration packages at A2 that are the real issue?



Nothing to do with commitment or affinity to the company

[couta1]

Thinking about our new CEO makes me feel like I've just swallowed a mouthful of petrol whilst syphoning a petrol tank.

[777]

Some of the exit packages these so called magnificent executives get always amazes me but now a there appears to be huge entrance packages.

Anyone going to the AGM? I hope it is broadcast to us suckers.

[minimoke]

Some of the exit packages these so called magnificent executives get always amazes me but now a there appears to be huge entrance packages.

Anyone going to the AGM? I hope it is broadcast to us suckers.They might want to reconsider location of AGM. I'd suggest Geraldine. It has a nice wee hall safely tucked away from majority of shareholders.

[couta1]

Some of the exit packages these so called magnificent executives get always amazes me but now a there appears to be huge entrance packages.

Anyone going to the AGM? I hope it is broadcast to us suckers. The AGM will be a war zone, GI Jayne will probably need a couple of bodyguards close by to keep her safe, tomato sales will be going gangbusters the day prior.

[777]

They might want to reconsider location of AGM. I'd suggest Geraldine. It has a nice week hall safely tucked away from majority of shareholders.

Security costs may be expensive where ever it is held.

[Raz]

What’s wrong with doing that. It’s her pay and nothing to do with anybody else.

probably asked for her pay in cash but no the Board said you need to take shares/rights

Nothing to do with commitment / affinity to the company

Maybe it’s the size of remuneration packages at A2 that are the real issue?



Nothing to do with commitment or affinity to the company

Whats wrong with it is exactly what is happening here..this is amateur hour by the executive, the board, the remuneration committee..just does not happen at a any serious public listed company in the US or Europe. When I held roles most cash outs was expected after leaving although i do note base incomes were higher as an executive in the US than here.

[longy]

The AGM will be a war zone, GI Jayne will probably need a couple of bodyguards close by to keep her safe, tomato sales will be going gangbusters the day prior.

OZ's strawberry is real cheap atm... use those instead. Really people, at the end of the day it is within her right to do. It is not illegal. For us little fish, just go with the flow. I have to say but it is hard being small fish.

[minimoke]

What exactly is a hybrid AGM?
Can shareholders attend?
The AGM is set for 20 Novemeber in Melbourne, time and venue still to be confirmed.
TJ probably factored in her share sell off with the notice to announce the AGM.According to the Market Announcement the other day

"

The 2018 Meeting will be a hybrid meeting. A hybrid meeting means


that in addition to holding a physical meeting of shareholders, a meeting


will also be held virtually. ATM wishes to hold the physical aspect of the


2018 Meeting in Melbourne, Australia.

[Beagle]

What’s wrong with doing that. It’s her pay and nothing to do with anybody else.

probably asked for her pay in cash but no the Board said you need to take shares/rights

Nothing to do with commitment / affinity to the company

Maybe it’s the size of remuneration packages at A2 that are the real issue?
Nothing to do with commitment or affinity to the company

Couple of things mate. Yes I very much preferred Geoff Babbage's remuneration package. Secondly I prefer to invest in companies where the board and senior management show a commitment to the company by holding shares not because they have some legal or moral obligation to do so, but because they believe in the companies long term prospects and believe in their own work such that they think its in their best interests to be a long term holder.

[Muppett]

What’s wrong with doing that. Tell that to the South heading SP.
It’s her pay and nothing to do with anybody else.
probably asked for her pay in cash but no the Board said you need to take shares/rights
Nothing to do with commitment / affinity to the company
Maybe it’s the size of remuneration packages at A2 that are the real issue? No, its a pay "peanuts, get monkeys" remuneration package.
Nothing to do with commitment or affinity to the company

Really............

[Muppett]

NBR article referred to a very consistent pattern of behavior. She clearly feels that the issue of shares is part of her remuneration package and she has no qualms whatsoever about cashing shares in whenever it suits her and as mentioned that's always been very shortly after the shares vest. I think its clear she feels no natural affinity whatsoever with the shareholders she represents. Some would call her a cold and calculating.... JetStar is a really crappy brand as far as I am concerned. Have I mentioned before how much I miss Goeff Babbage already ?

I wish the NBR had told "us" about that when she was appointed.
Maybe I'm not smart enough to suss this out myself, but a more enlightened, seasoned investor would have prior knowledge into her behavioural patterns.
How many troughs and makeup does she need?
And guess what folks, here is the biggy....... when she leaves in 2 years, her new/next company will pay for her rights/performances options that she could have picked up from A2. The next bunch of shareholders are already been F*#@*% over!

[moka]

I haven’t looked at Sharetrader for a few days so I was surprised to see 12 pages of new comments, many revealing an unconscious bias. The bias is that women are judged more harshly than men when they make a mistake in the business world. With women the mistake is often used as evidence that women are incompetent, whereas with men the same mistake is brushed off or ignored.
Double standards for men and women apply in the business world as well as for sexual behaviour. Unconscious bias is pervasive and often subtle. Rarely is it recognised as being sexist.

https://www.vox.com/science-and-health/2017/11/23/16686532/surgeon-mistakes-gender-wage-gap
“Women surgeons are punished more than men for the exact same mistakes, study finds
Sarsons got Medicare data on referrals by doctors to surgeons, and then looked at what happened to doctors’ referral rates after one of their patients died during a surgery. Would the doctor continue sending patients to that surgeon?
It turns out the surgeon’s gender — more than his or her performance — massively swayed that decision. The referring doctors judged female surgeons who had bad patient outcomes much more harshly than male surgeons, and that judgment determined whether they’d send their patients to the surgeon later.”

[see weed]

Today could be the start of a new 72hr. uptrend. Today's high is 4c higher than yesterdays. and today low is 1c higher than yesterday. That's a good sign if it holds at close:D

[minimoke]

I haven’t looked at Sharetrader for a few days so I was surprised to see 12 pages of new comments, many revealing an unconscious bias. The bias is that women are judged more harshly than men when they make a mistake in the business world. With women the mistake is often used as evidence that women are incompetent, whereas with men the same mistake is brushed off or ignored.
Double standards for men and women apply in the business world as well as for sexual behaviour. Unconscious bias is pervasive and often subtle. Rarely is it recognised as being sexist.

Can you think of any men who have recently single handed wiped out over $500m in shareholder wealth so trivially and quickly. I cant. Even the old fullahs at CBL required a group effort.

[Muppett]

I haven’t looked at Sharetrader for a few days so I was surprised to see 12 pages of new comments, many revealing an unconscious bias. The bias is that women are judged more harshly than men when they make a mistake in the business world. With women the mistake is often used as evidence that women are incompetent, whereas with men the same mistake is brushed off or ignored.
Double standards for men and women apply in the business world as well as for sexual behaviour. Unconscious bias is pervasive and often subtle. Rarely is it recognised as being sexist.

Has she admitted she made a mistake?

I don't think she sees it as a mistake.
She did it in a deliberate and calculating manner.
No mistake anywhere to be found by her way of thinking.

[couta1]

I haven’t looked at Sharetrader for a few days so I was surprised to see 12 pages of new comments, many revealing an unconscious bias. The bias is that women are judged more harshly than men when they make a mistake in the business world. With women the mistake is often used as evidence that women are incompetent, whereas with men the same mistake is brushed off or ignored.
Double standards for men and women apply in the business world as well as for sexual behaviour. Unconscious bias is pervasive and often subtle. Rarely is it recognised as being sexist.

https://www.vox.com/science-and-health/2017/11/23/16686532/surgeon-mistakes-gender-wage-gap
“Women surgeons are punished more than men for the exact same mistakes, study finds
Sarsons got Medicare data on referrals by doctors to surgeons, and then looked at what happened to doctors’ referral rates after one of their patients died during a surgery. Would the doctor continue sending patients to that surgeon?
It turns out the surgeon’s gender — more than his or her performance — massively swayed that decision. The referring doctors judged female surgeons who had bad patient outcomes much more harshly than male surgeons, and that judgment determined whether they’d send their patients to the surgeon later.” I don't give a toss whether a male/female or any mix of the two act in this manner, I'll still feel like I've just swallowed a mouthful of petrol.PS-Ive worked in a female dominated industry for near 30 yrs and I haven't seen any evidence of the above that is significant, in fact the most unforgiving attitude toward mistakes I've made has been from female family members.

[Lego_Man]

STMOD:

Never Copy & Paste entire articles!

You can quote an extract and always provide a link to the original article

[Lego_Man]

To be honest, the real focus and debate should be on Executive remuneration in general, which has been exposed again here as an absolute laughing stock.

Completely farcical that she gets paid her incentive component (which is what the shares should be) before she's actually achieved anything at the company.

[Snow Leopard]

Can you think of any men who have recently single handed wiped out over $500m in shareholder wealth so trivially and quickly. I cant. Even the old fullahs at CBL required a group effort.

But she did not.
She sold shares and the SP was higher after she finished than before she started.

It is all these misogynists selling that has subsequently brought the price down.

[winner69]

But she did not.
She sold shares and the SP was higher after she finished than before she started.

It is all these misogynists selling that has subsequently brought the price down.

Right on SL

[couta1]

Right on SL Not really as the SP was on an upward trajectory until Friday, since then it's been hammered due to her sell down, the SP was heading back to $13 aside from that.

[pg0220]

Not really as the SP was on an upward trajectory until Friday, since then it's been hammered due to her sell down, the SP was heading back to $13 aside from that.

As well as any potential impact it had on SML SP....

[couta1]

As well as any potential impact it had on SML SP.... Thank you, good point.

[minimoke]

Not really as the SP was on an upward trajectory until Friday, since then it's been hammered due to her sell down, the SP was heading back to $13 aside from that.Lets just look at a picture
Edit. And it wasnt so much her a sell down a couple of days earlier that caused the drop. It was after the after-market announcement of her sell down

[Beagle]

I liked the previous CEO's of ATM and SML. Two big changes this year. Both companies have changed their CEO, ex JetStar and ex Fonterror are hardly ringing endorsements are they ! The share price of both companies has done very well this year and prior to that. Growth is forecast to slow and there is some uncertainty over whether the indirect sales channels to China could be affected.
There is some question about the veracity of ATM's IP, trademarks patents, brands e,t,c,
After very careful consideration, (and not a knee jerk reaction) there's enough there for me to take a more cautious approach going forward so I have made some portfolio changes today.
Each person has to decide for themselves at what point they reevaluate their investment strategy...for me this is as good a time as any to reinvest some capital into a more value based growth opportunity that also incorporates a reasonable yield component.

[Leftfield]

I've been on the road and not able to comment since last saturday's post when I got a tab frustrated by some of the arguably sexist nature of the posts.

After more reflection, I agree that on first appearance the recent sell-down by the CEO (whether male or female) appeared to be a bad move, however I can well recall Feb 2017, when another ATM share sale seemingly spelled doom and gloom......(to some)

Here's a reminder of what was said in 2017, and as you read it, just remember what has happened to the ATM SP since ....

"A2 Milk chief executive Geoffrey Babidge sold 900,000 shares for $2.2m, or an average price of $A2.49, yesterday.

A2 Milk Co's chief executive and chair have sold down their stakes in the milk marketing firm, less than a week after reporting first-half profit more than tripled as demand for its A2 Platinum infant formula surged in its key Australia, New Zealand and China businesses.

Chair David Hearn sold 1 million shares for about $2.5 million, or $A2.48 a share, on Friday, while chief executive Geoffrey Babidge sold 900,000 shares for $2.2m, or an average price of $A2.49, yesterday. Hearn gained the shares by exercising 1 million of his 5 million options, for which he paid $630,000, with the sale to facilitate a property transaction in the UK to move his personal residence, according to documents published to the NZX.

Last week, the milk marketer reported net profit soared to $39.4m in the six months ended December 31, 2016, from $10.1m in the year-earlier period, while revenue rose 84 per cent to $256.1m.

The shares, which are notoriously volatile, had rallied to a record $2.60 in the lead-up to earnings being reported, slipped 1 cent to $2.57 after the results, and have continued to decline since. They traded at $2.51 on Friday, when Hearn sold his shares, $2.44 yesterday, and are down 4.1 per cent to $2.34 today."

In 2017 I continued to 'hold' and I now also continue to 'hold." Since that time the ATM share price has risen over 500%.

Now back to the present, the new CEO has issued me a scare and a warning, and I will watch ATM's performance a lot more carefully.

However back in 2017, I believed in the Board and Management - and I still do.

[minimoke]

I liked the previous CEO's of ATM and SML. Two big changes this year. Both companies have changed their CEO, ex JetStar and ex Fonterror are hardly ringing endorsements are they !We knew about that before Friday


The share price of both companies has done very well this year and prior to that. Growth is forecast to slow and there is some uncertainty over whether the indirect sales channels to China could be affected. We knew about that before Friday

There is some question about the veracity of ATM's IP, trademarks patents, brands e,t,c, We knew about that fore ever

After very careful consideration, (and not a knee jerk reaction) there's enough there for me to take a more cautious approach going forward so I have made some portfolio changes today.
Each person has to decide for themselves at what point they reevaluate their investment strategy...for me this is as good a time as any to reinvest some capital into a more value based growth opportunity that also incorporates a reasonable yield component. I see this as a blip, and likely an over reaction. Regardless of CEO these (ATM and SML) are volatile stocks. I remind myself I started with a long term view. That hasn't changed. Risk profile hasn't really changed.

I have doubled down several times on previous "corrections" and done nicely from that. This time around I am keeping my tinder dry and money in the bank. No adjustment in portfolio for me at the moment.

[Beagle]

What you say is fair comment and none of the above is really new news mate. I have decided I want to invest more strongly in a needs based business (OCA) on a forward PE of just 11, (far more value orientated) with a reasonable yield component (about 5% and growing each year for the foreseeable future). I met the CEO last week Earl Gasparich and he is known to some friends of mine in the industry to be a man of very high caliber and upmost integrity. I don't know the two new CEO's of the milky companies from Adam. I guess there comes a time when one asks themselves if they need so much volatility in their portfolio or whether they can still get really good growth and some yield by tweaking their portfolio... I still hold a reasonable stake in each, (free ride of course).

I've been thinking about the changes in CEO's for many many weeks now. Except from ATM annual report received today Chair's comment page 15 "This year also marks the retirement of Geoffrey Babbage as managing director and CEO..... Geoff's leadership was a critical part of the company's success over his 11 year association with the business" Emphasis added. I really don't know what Ms Hrdlicka brings to the business but her credentials leading JetStar and what a rubbish brand that division of Qantas is, do not impress me.

[minimoke]

Time for a different pespective: https://www.stuff.co.nz/business/farming/107355617/a2-boss-riles-shareholders-while-others-cash-in

[minimoke]

What you say is fair comment and none of the above is really new news mate. I have decided I want to invest more strongly in a needs based business Time for a wee reminder: Lactose Intolerance - quite a need hteri https://www.auckland.ac.nz/en/about/news-events-and-notices/news/news-2018/04/could-drinking-a2-milk-help-lactose-intolerant-people-digest-dairy-long-term.html

And how big is that potential need: might be a lot of needy peoepl here: https://milk.procon.org/view.resource.php?resourceID=000661



(OCA) on a forward PE of just 11, (far more value orientated) with a reasonable yield component (about 5% and growing each year for the foreseeable future). I met the CEO last week Earl Gasparich and he is known to some friends of mine in the industry to be a man of very high caliber and upmost integrity. I don't know the two new CEO's of the milky companies from Adam. I guess there comes a time when one asks themselves if they need so much volatility in their portfolio or whether they can still get really good growth and some yield by tweaking their portfolio... I still hold a reasonable stake in each, (free ride of course).

I've been thinking about the changes in CEO's for many many weeks now. Except from ATM annual report received today Chair's comment page 15 "This year also marks the retirement of Geoffrey Babbage as managing director and CEO..... Geoff's leadership was a critical part of the company's success over his 11 year association with the business" Emphasis added. I really don't know what Ms Hrdlicka brings to the business but her credentials leading JetStar and what a rubbish brand that division of Qantas is, do not impress me.

Having a good CEO is important. But what is MUCH more important is highly capable and competent people working under the CEO. People like marketers and product developers etc

What we need to look out for is if the leadership style of these two new CEO's retains current high performing staff. Or do they exit.

Herdlicker did, I thought, a pretty good job on her TV appearance the other day. SML are buying a cheese factory etc etc. Still potential for more positives than the offset blip

[thestg]

I sold down 50% of my ATM yesterday & it is nice to see a fair amount of cash available for re-investment.

The remaining ATM still sits at 14% of my Portfolio.


I was thinking ATM’s price would drop a little lower & my plan was to buy back in & take advantage of the dip.


Now on re-consideration I think a CEO selling is a major “Warning” and that this is a stock in which NOT to re-invest back into.


Like Beagle I will be re-balancing my Portfolio and look forward to my less volatile choice.

[Beagle]

I am well and truly sick of the volatility minimoke...that's another reason to take a more circumspect approach as far as I am concerned.
I think Earl Gasparich is an excellent leader in a very similar vein as Simon Challis was at Ryman. I agree that the way a CEO relates too and motivates staff and senior management and leads them is of critical importance and think he's just the man for the job. As I said, I don't know these JetStar and Fonterror newcomers from Eve and Adam, maybe they're good and maybe they're hopeless. Got a spare coin I could flip :)

[see weed]

I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.

[sb9]

Well hot off the press and also courtesy of one of HC member for posting details...

https://www.iod.org.nz/Branches-and-events/Branch-event/ProductId/5752

Looks like David Hearn was in Auckland today for breakfast event as per above and one of the question has was asked by a reporter relating to recent news of CEO selling down shares...

And in words of HC member this is what he said as per below...

*****
"David Hearn (Chairman) gave a speech in Auckland this morning. During the Q&A session the issue of Jayne selling all her shares was the first question brought up in the audience. His answer was the shares Jayne sold was compensation for her existing scheme in she had in Qantas, A2M had to match it her old compensation scheme when she moved over. They just happen to vest the same time as her old JetStar/Qantas shares. The Australian rule is that tax becomes payable when the shares becomes exercisable, and not when they are exercised. She she was forced to sell 48% of her shares to fund her tax obligations. And the rest of it she sold was genuinely related to pre-employment commitment she made.

In hindsight David Hearn said they should've compensated her exisitng JetStar/Qantas shares in cash when she joined. But they can understand how it looks really bad right now.

Honestly, I really don't think there's anything sinister with Jayne's action and it rather was just poor timing (the fact that she also took two months off prior to starting at A2M further makes the optics look bad)."

****

I think its time to move on.....

[thestg]

I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.

I 2nd that.

[winner69]

I am well and truly sick of the volatility minimoke...that's another reason to take a more circumspect approach as far as I am concerned.
I think Earl Gasparich is an excellent leader in a very similar vein as Simon Challis was at Ryman. I agree that the way a CEO relates too and motivates staff and senior management and leads them is of critical importance and think he's just the man for the job. As I said, I don't know these JetStar and Fonterror newcomers from Adam, maybe they're good and maybe they're hopeless. Got a spare coin I could flip :)

If the A2 Chief Marketing Officer goes that would be a huge loss. That Susan has been the driving force behind A2 the last few years

And nobody seems to have worried about her selling millions of dollars worth of shares lately.

[Beagle]

I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.

LOL thanks for the vote of confidence mate.

[Beagle]

If the A2 Chief Marketing Officer goes that would be a huge loss. That Susan has been the driving force behind A2 the last few years

And nobody seems to have worried about her selling millions of dollars worth of shares lately.

Are incoming shareholders buying those shares effectively being "milked" :)

[see weed]

I am well and truly sick of the volatility minimoke...that's another reason to take a more circumspect approach as far as I am concerned.
I think Earl Gasparich is an excellent leader in a very similar vein as Simon Challis was at Ryman. I agree that the way a CEO relates too and motivates staff and senior management and leads them is of critical importance and think he's just the man for the job. As I said, I don't know these JetStar and Fonterror newcomers from Adam, maybe they're good and maybe they're hopeless. Got a spare coin I could flip :)
It's volatile because that's what the Aussi's do to get to eventually own 95% of the NZ company. They already have over 50% now haven't they? So you better buy back in tomorrow before the next uptrend. This could be the next coca cola;).

[sb9]

Well hot off the press and also courtesy of one of HC member for posting details...

https://www.iod.org.nz/Branches-and-events/Branch-event/ProductId/5752

Looks like David Hearn was in Auckland today for breakfast event as per above and one of the question has was asked by a reporter relating to recent news of CEO selling down shares...

And in words of HC member this is what he said as per below...

*****
"David Hearn (Chairman) gave a speech in Auckland this morning. During the Q&A session the issue of Jayne selling all her shares was the first question brought up in the audience. His answer was the shares Jayne sold was compensation for her existing scheme in she had in Qantas, A2M had to match it her old compensation scheme when she moved over. They just happen to vest the same time as her old JetStar/Qantas shares. The Australian rule is that tax becomes payable when the shares becomes exercisable, and not when they are exercised. She she was forced to sell 48% of her shares to fund her tax obligations. And the rest of it she sold was genuinely related to pre-employment commitment she made.

In hindsight David Hearn said they should've compensated her exisitng JetStar/Qantas shares in cash when she joined. But they can understand how it looks really bad right now.

Honestly, I really don't think there's anything sinister with Jayne's action and it rather was just poor timing (the fact that she also took two months off prior to starting at A2M further makes the optics look bad)."

****

I think its time to move on.....


Its probably bad move on BOD part re the way they compensated her rather than actions of CEO by the looks.

[longy]

It is probably a bad look too to offer her 4mil cash up front to get her over to A2. Shareholders probably won't be happy either. It is a case of poor judgement by the board I think.

[Ggcc]

It is probably a bad look too to offer her 4mil cash up front to get her over to A2. Shareholders probably won't be happy either. It is a case of poor judgement by the board I think.
Unfortunately finding people to run a big NZ company is huge and the pool of great CEOs is small. I think the money is ridiculous, but that is what CEOs get paid worldwide. We all need to compete to get the best CEOs with great financial packages (even though I think it is wrong, but whinging about it just makes me not a happy person).

[Raz]

Unfortunately finding people to run a big NZ company is huge and the pool of great CEOs is small. I think the money is ridiculous, but that is what CEOs get paid worldwide. We all need to compete to get the best CEOs with great financial packages (even though I think it is wrong, but whinging about it just makes me not a happy person).

half the value of a good CEO is the proven team of mid level executives that will follow them from the last gig..it’s the alignment and collective ability that really counts and that is why so many people try yet never make the first CEO appointment.

[Patient Panda]

Well hot off the press and also courtesy of one of HC member for posting details...

https://www.iod.org.nz/Branches-and-events/Branch-event/ProductId/5752

Looks like David Hearn was in Auckland today for breakfast event as per above and one of the question has was asked by a reporter relating to recent news of CEO selling down shares...

And in words of HC member this is what he said as per below...

*****
"David Hearn (Chairman) gave a speech in Auckland this morning. During the Q&A session the issue of Jayne selling all her shares was the first question brought up in the audience. His answer was the shares Jayne sold was compensation for her existing scheme in she had in Qantas, A2M had to match it her old compensation scheme when she moved over. They just happen to vest the same time as her old JetStar/Qantas shares. The Australian rule is that tax becomes payable when the shares becomes exercisable, and not when they are exercised. She she was forced to sell 48% of her shares to fund her tax obligations. And the rest of it she sold was genuinely related to pre-employment commitment she made.

In hindsight David Hearn said they should've compensated her exisitng JetStar/Qantas shares in cash when she joined. But they can understand how it looks really bad right now.

Honestly, I really don't think there's anything sinister with Jayne's action and it rather was just poor timing (the fact that she also took two months off prior to starting at A2M further makes the optics look bad)."

****

I think its time to move on.....



Thanks very much for posting this SB9.

time for everyone to move on.

I will add for a few of you taking a bit more time off, away from share prices and the market might be a good idea. If you believe in the business share price volatility is not a good reason to divest shares or not purchase.

If management give you a rational, cogent reason for their action/s and theirs no obvious reason they are wrong or trying to decieve you it might be better to take their word at face value. You have trusted them up till now and with good reason they have produced amazing results.

[Ggcc]

half the value of a good CEO is the proven team of mid level executives that will follow them from the last gig..it’s the alignment and collective ability that really counts and that is why so many people try yet never make the first CEO appointment.
Yes I do agree and for all of them they usually try their hardest to do well for the company. I just struggle with their remuneration packages not only for this company, but loads of companies. As I said I disagree how much they get paid, but so is life and I just need to move along.

[couta1]

Yes I do agree and for all of them they usually try their hardest to do well for the company. I just struggle with their remuneration packages not only for this company, but loads of companies. As I said I disagree how much they get paid, but so is life and I just need to move along. Or just stick to investing in companies where there are a lack of Troughers like the retirement sector or companies where the CEO has proven themselves over a long period before raiding the larder.

[longy]

Unfortunately finding people to run a big NZ company is huge and the pool of great CEOs is small. I think the money is ridiculous, but that is what CEOs get paid worldwide. We all need to compete to get the best CEOs with great financial packages (even though I think it is wrong, but whinging about it just makes me not a happy person).

Thanks Ggcc. I should rephrase. Re poor judgement of the BOD. They probably did not foresee that the shareholders/media reacted so strongly about it (how could they not, right?)

Personally I did not think 4mil plus was excessive to get a good CEO, given the money that this company is making. Time will tell if she is any good. I can't wait to the next round of announcement.

[Baa_Baa]

The force is strong with this company, despite misgivings, it is looking like sentiment is bottoming today, and it's still above this months low price. Go figure. If you're looking for an entry or top up SP.

Emotion is so hard to avoid, but it's essential to do so. It's your money

[Muppett]

Thanks Ggcc. I should rephrase. Re poor judgement of the BOD. They probably did not foresee that the shareholders/media reacted so strongly about it (how could they not, right?)

Personally I did not think 4mil plus was excessive to get a good CEO, given the money that this company is making. Time will tell if she is any good. I can't wait to the next round of announcement.

Any chance you can elucidate why the next round of announcement will be so exciting, in your opinion?

[longy]

Any chance you can elucidate why the next round of announcement will be so exciting, in your opinion?

I am not sure "exciting" is the word I would use in investing... It got me in trouble many times over. I am more of a steady pace kinda guy. I have always have faith in this management till this episode. I have questioned if I should hold on or time to get out. The more I think about it, Jayne either so blind or so smart to sell all of her shares then follow by a string of poor result. This would prompt some sort of investigation, wouldn't it?

We been told the over head in 2019 will be higher, how high?Tthe word the management used was "slightly". How well is the company doing? They said it is in line with their forecast. What are those all means anyway? It is no way for me to know how well is this company is doing. Since I have decided to own shares in A2... I will need to have faith in the management right? So for me the next round of announcement hopefully be so convincing that I should remain as a share holder or use the funds and invest in something else. So it is not excitement that I seek but certainty.

[Muppett]

I am not sure "exciting" is the word I would use in investing... It got me in trouble many times over. I am more of a steady pace kinda guy. I have always have faith in this management till this episode. I have questioned if I should hold on or time to get out. The more I think about it, Jayne either so blind or so smart to sell all of her shares then follow by a string of poor result. This would prompt some sort of investigation, wouldn't it?

We been told the over head in 2019 will be higher, how high?Tthe word the management used was "slightly". How well is the company doing? They said it is in line with their forecast. What are those all means anyway? It is no way for me to know how well is this company is doing. Since I have decided to own shares in A2... I will need to have faith in the management right? So for me the next round of announcement hopefully be so convincing that I should remain as a share holder or use the funds and invest in something else. So it is not excitement that I seek but certainty.

I always want the SP heading North, no matter what I say or how it might be perceived, but I have little confidence in the company for reasons I have previously stated and also because the "relationship mix" between cash, profit and sales alters during the business life cycle of a company. ATM hopefully still has a way to go before it gets to the maturity stage, but that assumes there are no headwinds/problems ahead. It may never get there. But then it may have a second coming. I'll wait till the next full year results are announced in order to get a better handle on the company moving forward. If G.I. Jayne doesn't do it for me and so far she hasn't, I'll take my profit and be boring and invest elsewhere. Time is ticking, just like the Brexit deadline.

[Raz]

Yes I do agree and for all of them they usually try their hardest to do well for the company. I just struggle with their remuneration packages not only for this company, but loads of companies. As I said I disagree how much they get paid, but so is life and I just need to move along.

I made regional CEO overseas for a fortune 500, just over ten years ago, I was in that role for three years, it was all consuming of my life, now a lot of lower level jobs are like that...time in the end is the currency we all face. I worked so hard to get the opportunity however the role I got was pure luck in the end, right people in right place at the right time really gave me the job over others...so few quality people get the chance. When you have fulfilled that kind of role you drop into such a small group. Boards are risk adverse they simply want someone that has the experience on that scale, so they do have to pay. The salaries now are rather self serving and in party reflect what happens overseas, the key difference is that places like the US you can be fired so quick and that was why they originally paid so high, two to three years was a good run and no guarantee that next job would be around the corner. That really does not apply in Australia or New Zealand, you really need to have a disaster in NZ to lose the job...so really they are now paid the higher income often with a longer tenure.

What has also changed is that you could not cash out your shares while in the role, legally I was able to however culturally it would have been career suicide to do this in the US. That is still the case over there with the people I keep in contact with... given our small capital market it does seem a strange culture and how remuneration is positioned here, smaller market like AIM in the UK are even more strict..rather than the casual approach to it here.

[davflaws]

Kia ora Raz
An extremely enlightening and useful post. Thank you.

[Balance]

https://www.stuff.co.nz/business/farming/107355617/a2-boss-riles-shareholders-while-others-cash-in

Good perspective.

BS however that Blackrock used the price weakness to load up. Sad how hopeless our financial journos are these days.

[Ggcc]

I made regional CEO overseas for a fortune 500, just over ten years ago, I was in that role for three years, it was all consuming of my life, now a lot of lower level jobs are like that...time in the end is the currency we all face. I worked so hard to get the opportunity however the role I got was pure luck in the end, right people in right place at the right time really gave me the job over others...so few quality people get the chance. When you have fulfilled that kind of role you drop into such a small group. Boards are risk adverse they simply want someone that has the experience on that scale, so they do have to pay. The salaries now are rather self serving and in party reflect what happens overseas, the key difference is that places like the US you can be fired so quick and that was why they originally paid so high, two to three years was a good run and no guarantee that next job would be around the corner. That really does not apply in Australia or New Zealand, you really need to have a disaster in NZ to lose the job...so really they are now paid the higher income often with a longer tenure.

What has also changed is that you could not cash out your shares while in the role, legally I was able to however culturally it would have been career suicide to do this in the US. That is still the case over there with the people I keep in contact with... given our small capital market it does seem a strange culture and how remuneration is positioned here, smaller market like AIM in the UK are even more strict..rather than the casual approach to it here.
Very nice post and thanks

I do agree that it absorbs your life, it is the same as being self employed which I was for many years. I could not attend weddings, funerals had to be someone important and socialising was scarce. I lost many friends who just did not understand my sacrifices. I made what I consider good money and saved most of it. It must be the same for CEOs, many of the ones I know have had failed marriages due to their obligations, but they seem happy with the money side

[bull....]

apparently afr say herdlicker only needed to sell half the shares to meet tax bill

[waikare]

apparently afr say herdlicker only needed to sell half the shares to meet tax bill

Probably didn't need to sell any if she got herself organised.

[see weed]

https://www.stuff.co.nz/business/farming/107355617/a2-boss-riles-shareholders-while-others-cash-in

Good perspective.

BS however that Blackrock used the price weakness to load up. Sad how hopeless our financial journos are these days.
I picked up on that too. Blackrock bought 38,298,101 shares on 21/9/18, not 734 million as stated. The sp for Friday= high $12.66c and low= $12.33 average= about $12.495c. A pitty they didn't buy them today.

[couta1]

Probably didn't need to sell any if she got herself organised. Code for "If she hadn't spent all her 50 mill plus earnings over the last ten years on frivolous living"

[silu]

Something worth reading from Harbour Asset Managment:

Harbour Navigator: Postcard from China - The eCommerce growth model
https://www.harbourasset.co.nz/research-and-commentary/harbour-navigator-postcard-from-china-the-ecommerce-growth-model/

[Southern_Belle]

Something worth reading from Harbour Asset Managment:

Harbour Navigator: Postcard from China - The eCommerce growth model
https://www.harbourasset.co.nz/research-and-commentary/harbour-navigator-postcard-from-china-the-ecommerce-growth-model/
very interesting reading indeed. Great to have a broader perspective when making investment decisions. Thanks for sharing

[Patient Panda]

Yes I had already read it and highly recommend to all. Some really great scuttlebutt research and analysis going on there. Phillip Fisher would be proud

[bull....]

more company people selling

https://www.nzx.com/announcements/324442

[minimoke]

more company people selling

https://www.nzx.com/announcements/324442Wotherspoon not doing husbands any favours. Fancy gifting the Mrs a couple of hundy ATM shares. Not a good example!

[bull....]

Wotherspoon not doing husbands any favours. Fancy gifting the Mrs a couple of hundy ATM shares. Not a good example!

probably wanted her to go out and treat herself ... . generous these a2 people

[silu]

Too many signs....I want to sell them so badly now. Maybe start off with selling half. They are 20% of my portfolio after all.

[sb9]

Listen: Kiwi dairy farms need to start producing A2 milk
https://www.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=12132190

More from Prof Woodford.

[minimoke]

Listen: Kiwi dairy farms need to start producing A2 milk


https://www.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=12132190

More from Prof Woodford.
Thanks. I enjoy articles that confirm my bias.

[Beagle]

more company people selling

https://www.nzx.com/announcements/324442

You guys don't understand how incredibly tough it is at the top...It simply isn't the done thing to be seen with the same Gucci handbag or dress twice. Then there's the cars...you need a different one for every day of the week you know and none of this rubbish made in Asia.

[bull....]

aus not happy about those handbags

[Jim]

Wotherspoon not doing husbands any favours. Fancy gifting the Mrs a couple of hundy ATM shares. Not a good example!

Apparently if you gift anything over $1000 is a hassle-as last year there was a really big Anti-money laundering legal act that came into effect. I am not sure that AML Act apply to off market transfer of shares. Anyone know if there are any tax or AML implications/paperwork ?

[minimoke]

aus not happy about those handbagsThey closed at aud$10.70 or NZD$11.66

(SML down 3.8% compared with our 2.8%

Froth has certainly been blown of the milky delights

[couta1]

They closed at aud$10.70 or NZD$11.66

(SML down 3.8% compared with our 2.8%

Froth has certainly been blown of the milky delights My wife bought me a packet of milk bottle lollies made with real NZ milk so I'm going to be a real pig and eat them all tonight, might as well follow the example of these company Troughers.

[Joshuatree]

"Originally Fonterra had a 50 per cent share in the key patent for A2, says Woodford but "they convinced themselves that A2 wasn't going anywhere."

Flogged it off for peanuts?:eek2:

There looks to be an opening for investors buying shares in an A2 conversion herd or three, fund/ co to be set up.

[RupertBear]

My wife bought me a packet of milk bottle lollies made with real NZ milk so I'm going to be a real pig and eat them all tonight, might as well follow the example of these company Troughers.

Sooo jealous! LOVE milk bottle lollies! Enjoy :D

[sonny n share]

a2 Milk becomes first mainstream dairy brand to ditch plastic bottles in UK


https://www.google.co.uk/amp/s/amp.theguardian.com/food/2018/sep/26/a2-milk-dairy-brand-ditch-plastic-bottles-paper-cartons

[Leftfield]

a2 Milk becomes first mainstream dairy brand to ditch plastic bottles in UK


https://www.google.co.uk/amp/s/amp.theguardian.com/food/2018/sep/26/a2-milk-dairy-brand-ditch-plastic-bottles-paper-cartons

Thanks for sharing Sonny n Share!! I like this move and hope it happens in NZ!!

[dobby41]

My wife bought me a packet of milk bottle lollies made with real NZ milk so I'm going to be a real pig and eat them all tonight, might as well follow the example of these company Troughers.

Were they A2 milk bottle lollies though?

[couta1]

Were they A2 milk bottle lollies though? Unfortunately not but they still tasted great. I see another Insto taking a 5% stake in the company(Pendal Group) may be short termers though.

[longy]

What is going on? Directors are reducing their holdings then came big boys loaded up shares.

[couta1]

What is going on? Directors are reducing their holdings then came big boys loaded up shares. They look at the fundamentals and sniff value whilst the rest of us are watching and worrying about the Troughers.

[minimoke]

The other day Blackrock announced 5% holding. Today its Pendal Group. 2 holders with >10% - must check registry to see how many big boys are holding.

[longy]

The other day Blackrock announced 5% holding. Today its Pendal Group. 2 holders with >10% - must check registry to see how many big boys are holding.

Top 20 Shareholders as at 1/08/2018A2M
Shareholder Effective Date Capital (%) Shares Notes
HSBC Custody Nominees (Australia) Limited 1/08/2018 11.65 85,063,867
HSBC Nominees (New Zealand) Limited 1/08/2018 7.75 56,590,109
JP Morgan Chase Bank 1/08/2018 6.86 50,093,867
Citibank Nominees (NZ) Ltd 1/08/2018 5.82 42,497,201
J P Morgan Nominees Australia Limited 1/08/2018 5.18 37,804,044
Citicorp Nominees Pty Limited 1/08/2018 4.78 34,903,206
HSBC Nominees (New Zealand) Limited (I) 1/08/2018 4.70 34,327,070
National Nominees Limited 1/08/2018 2.87 20,970,143
Tea Custodians Limited 1/08/2018 2.60 19,003,535
Accident Compensation Corporation 1/08/2018 2.54 18,523,827
Citicorp Nominees Pty Limited (I) 1/08/2018 2.32 16,954,159
Cogent Nominees Limited 1/08/2018 2.13 15,553,381
National Nominees New Zealand Limited 1/08/2018 1.22 8,888,605
New Zealand Superannuation Fund Nominees Limited 1/08/2018 1.15 8,363,639
Premier Nominees Limited 1/08/2018 1.08 7,851,198
BNP Paribas Nominees Pty Ltd 1/08/2018 0.97 7,113,604
BNP Paribas Nominees NZ Limited 1/08/2018 0.87 6,372,718
Cogent Nominees (NZ) Limited 1/08/2018 0.52 3,805,950

[longy]

Shareholders BuyingA2M
Name Date Previous (%) New (%) Shares Traded
BlackRock, Inc and related bodies corporate 21/09/2018 5.21
The Goldman Sachs Group, Inc. 16/08/2018 6.09 7.41 9,759,140
The Goldman Sachs Group, Inc. 8/08/2018 5.08 6.09 7,358,674
The Goldman Sachs Group, Inc. 2/08/2018 5.08
BlackRock, Inc and related bodies corporate 31/05/2018 5.03
Commonwealth Bank of Australia 29/05/2018 6.33 7.34 7,658,169
BlackRock, Inc and related bodies corporate 7/01/2018 5.00

[longy]

Shareholders SellingA2M
Name Date Previous (%) New (%) Shares Traded
The Goldman Sachs Group, Inc. 21/08/2018 7.41
Colonial First State Asset Management (Australia) Limited 1/07/2018 5.35
BlackRock, Inc and related bodies corporate 5/06/2018 5.03
Colonial First State Asset Management (Australia) Limited 30/10/2017 6.38 5.35 7,180,952
Challenger Limited 28/09/2017 5.51

[bull....]

pendal group are active managers ... traders

[silu]

Not sure if this has been shared yet but Morningstar brought out a video with them starting coverage
https://www.morningstar.com.au/Video/seizing-on-a2-milk39s-china-formula/170612

[Leftfield]

Latest Morningstar on ATM FYI sort of sums things up but IMO is a tab silent on USA and UK

https://www.morningstar.com.au/Video/seizing-on-a2-milk39s-china-formula/170612

[bull....]

nz bit optimistic at the moment

[see weed]

see weed reporting from Whangamata. Come on now all you shorters. We want more bargains. Keep up the good work:t_up:.

[Muppett]

see weed reporting from Whangamata. Come on now all you shorters. We want more bargains. Keep up the good work:t_up:.

Why don't you stick your head in a bucket of water 4 times and only bring it up 3 times to breath.

[winner69]

Why don't you stick your head in a bucket of water 4 times and only bring it up 3 times to breath.

Muppett — hope you don’t really mean that

[davflaws]

The Beagle prescription - a cuppa tea and a lie down.
Works every time.

[777]

Why don't you stick your head in a bucket of water 4 times and only bring it up 3 times to breath.

Because he is not a muppett I suppose.

[Baa_Baa]

Let's not be too judgemental, Muppett doesn't want the SP to go any lower. Understandable even if poorly expressed. I reckon this Exec selling sentiment will blow over in a day or so notwithstanding no more Troughers filling their snouts. Been a bad week or two for ATM shafting their loyal shareholders.

[Yoda]

Why don't you stick your head in a bucket of water 4 times and only bring it up 3 times to breath.
Sea weed flourishes underwater, I'm sure thats what you meant ... Oh but thats See, not Sea...

[Muppett]

Sea weed flourishes underwater, I'm sure thats what you meant ... Oh but thats See, not Sea...

Its see weed, ............ the weed he sees he probably smokes.

[see weed]

Why don't you stick your head in a bucket of water 4 times and only bring it up 3 times to breath.
Good morning muppett.. All is forgiven. Have you not owned a2 for very long? It used to do this to me in the 50c days up and down 10 to 20c, which is about a 40% swing each time it went up and down. These days it can go up or down $1 which is less than a 10% swing. If you are a true follower of the a2 story, then these little swings should not effect you. a2 is just being a2 up and down like a yo yo. By the way, I have not sold any a2 shares in the last week, so maybe the bucket of water could be for all the muppetts who have sold recently including that johny come lately herdlicker. Again all is forgiven, and you could take advantage of the down swing. Have a nice day and a nice cup of a2. Ps Maybe I am the muppett for not selling;).

[see weed]

Sea weed flourishes underwater, I'm sure thats what you meant ... Oh but thats See, not Sea...
I was weeding a lot of gardens when I joined sharetrader. When I closed my eyes at night all I could see were weeds. But I do like seaweed, so chose that for another site completely separate from sharemarket forums. Lets get back to a2 and more bargain hunting:).

[whome]

Good one Seeweed. Back in the day I bought A2 at 8c, then sold at 15c as my impatience could not handle the swings. Thought I’d done really well at the time!!! A bit different now? Well no, still more of the same until product benefits are more proven. What keeps me there is the potential -the huge size of the chinese IF market, the fact that some 30% of humans have serious allergy food related digestion problems and anecdotally some get relief from A2 milk. The sp jumped when Fonterra climbed aboard with expected big things to happen. Never been a fan of F’s marketing ability. I expect the A2 sp to return to trend when their previous price trend catches up with the ‘F’ blip reaction, a bit like watching the Auckland house prices return to trend after the prices of recent years. I believe eventually all cow milk produced in NZ will come from A2 cows, still awhile away though.

[bull....]

Good morning muppett.. All is forgiven. Have you not owned a2 for very long? It used to do this to me in the 50c days up and down 10 to 20c, which is about a 40% swing each time it went up and down. These days it can go up or down $1 which is less than a 10% swing. If you are a true follower of the a2 story, then these little swings should not effect you. a2 is just being a2 up and down like a yo yo. By the way, I have not sold any a2 shares in the last week, so maybe the bucket of water could be for all the muppetts who have sold recently including that johny come lately herdlicker. Again all is forgiven, and you could take advantage of the down swing. Have a nice day and a nice cup of a2. Ps Maybe I am the muppett for not selling;).

me too been trading the swings for years was very active between 50 c - 60c and im hoping the price declines some more

[Beagle]

Good one Seeweed. Back in the day I bought A2 at 8c, then sold at 15c as my impatience could not handle the swings. Thought I’d done really well at the time!!! A bit different now? Well no, still more of the same until product benefits are more proven. What keeps me there is the potential -the huge size of the chinese IF market, the fact that some 30% of humans have serious allergy food related digestion problems and anecdotally some get relief from A2 milk. The sp jumped when Fonterra climbed aboard with expected big things to happen. Never been a fan of F’s marketing ability. I expect the A2 sp to return to trend when their previous price trend catches up with the ‘F’ blip reaction, a bit like watching the Auckland house prices return to trend after the prices of recent years. I believe eventually all cow milk produced in NZ will come from A2 cows, still awhile away though.

Excellent post. You've been a shareholder for quite a while so well done to you mate. Looking forward to hearing some more insights at our forthcoming meeting.

[bull....]

reached critical zone on the asx , could be a
fall if it breaks

[couta1]

Looking at the volumes it's just shorters and retail fish playing the games, big boys doing nothing.

[bull....]

should test the lows of the range again sometime .... anyway nice break down thx herdeee

[Leftfield]

Looking at the volumes it's just shorters and retail fish playing the games, big boys doing nothing.

Agree - (ps congrats to you and others holding HLG!)

[pg0220]

Looking at the volumes it's just shorters and retail fish playing the games, big boys doing nothing.

Might sound like a silly question, but who are the retailers?

[longy]

Might sound like a silly question, but who are the retailers?

People who trade through such as ASB, ANZ security... so called mums and dads investors..

[pg0220]

People who trade through such as ASB, ANZ security... so called mums and dads investors..

Aha! That's me! Thanks :)

[minimoke]

Yeha. Ma hats gonna flying, the chaps worn bare but Ima hangin' onto this bronco with a firm steely pairs o' hands!

[Saffer]

My 1st step into shares. Bought some at $11.18. Wish me luck

[RGR367]

My 1st step into shares. Bought some at $11.18. Wish me luck

Good start Saffer. It will do you good :t_up:as everyone has to start sometime/somewhere. And welcome to ST too.

[minimoke]

My 1st step into shares. Bought some at $11.18. Wish me luck
Well done. If I had some spare cash I'd be buying more at this level.

[thestg]

My 1st step into shares. Bought some at $11.18. Wish me luck

Good luck, I just bought back a few at $11.17 my self.

[Ggcc]

Still holding so far as I believe it will rebound as I feel this is an overreaction on the CEO. Once it goes up it will bounce up very quick as long as the fundamentals don’t change and if they scale backwards on fundamentals shareholders will ask CEO please explain the sell down better

[steveb]

good volume in aus perhaps our new CEO has paid her tax bill and bought back in,time will tell

[longy]

good volume in aus perhaps our new CEO has paid her tax bill and bought back in,time will tell

I suspect that would happen at some stage. That would be great for the SP wouldn't it?

[winner69]

good volume in aus perhaps our new CEO has paid her tax bill and bought back in,time will tell

No need for her to buy back in ....Jayne will continue to get heaps more free ones to add to her existing pile.

[Ggcc]

No need for her to buy back in ....Jayne will continue to get heaps more free ones to add to her existing pile.
I agree. Why buy when your trough keeps filling up..... sorry got in there before Couta could

[Beagle]

No need for her to buy back in ....Jayne will continue to get heaps more free ones to add to her existing pile.

Yes she has a long history of selling very shortly after incentive scheme shares are allotted to her. Does a tiger change its stripes or a snow leopard charge its spots..oh wait...hang on a minute...

[winner69]

Yes she has a long history of selling very shortly after incentive scheme shares are allotted to her. Does a tiger change its stripes or a snow leopard charge its spots..oh wait...hang on a minute...


Wonder when the 500,000 odd rights she still has vest


That'll be a big pay day ....and a bit more anguish for share holders

[couta1]

I agree. Why buy when your trough keeps filling up..... sorry got in there before Couta could Dear Jayne, Thank you for facilitating the loss of near a billion off the companies market cap, I'm sure you have done wonders for the sale of antidepressants this week as well. Be sure to enjoy a lavish carefree weekend without giving a toss about where the SP is at(After all you don't own any) I'm sure your shining example will be the inspiration for many other CEOs out there. Yours Grudgingly Couta.

[carrom74]

Still holding so far as I believe it will rebound as I feel this is an overreaction on the CEO. Once it goes up it will bounce up very quick as long as the fundamentals don’t change and if they scale backwards on fundamentals shareholders will ask CEO please explain the sell down better

I concur and just topped up some more....A2 milk is almost 70% of my portfolio...Lets see whats happens next week eh...

[bull....]

the ceo is smart lady , she new it was overvalued stock with a too high pe and she cashed in. insiders generally know better than retail i guess

[dobby41]

the ceo is smart lady , she new it was overvalued stock with a too high pe and she cashed in. insiders generally know better than retail i guess

The SP is back to where it was early Sep before it 'took off'.
Before she sold anything.
Maybe some rationality has creeped back in?
Maybe her selling was just the trigger that was needed to make people see sense?

If you are really bullish on this stock then it has created an ideal opportunity to buy more at sale prices.

[couta1]

Agree - (ps congrats to you and others holding HLG!) Thanks for that, got that one right and stuck with it, hanging in with this one also.

[couta1]

I concur and just topped up some more....A2 milk is almost 70% of my portfolio...Lets see whats happens next week eh... I Love your diversity strategy, go big or go home.

[Saffer]

$340mil in cash and retained earnings of $290mil and EPS of 27c what will there dividend strategy be when they do pay. At 40% of retained earnings could be between 10.8c and 16c

[Ggcc]

the ceo is smart lady , she new it was overvalued stock with a too high pe and she cashed in. insiders generally know better than retail i guess
I have met many CEOs of big companies who have openly stated they find shares glorified gambling. Many of these CEOs having nothing to show for it but broken marriages, many office flings and many drunken experiences.

[Snow Leopard]

Yes she has a long history of selling very shortly after incentive scheme shares are allotted to her. Does a tiger change its stripes or a snow leopard charge its spots..oh wait...hang on a minute...

Once was an accounting eagle,
who squawked on ST like a sea gull.
Changing his tune,
now howls at the moon,
and barks all day like a Beagle.

:p

[carrom74]

I Love your diversity strategy, go big or go home.

“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”-Warren Buffett...

I am not sure when it will rain gold with ATM:D but I have taken the plunge lets see couta..

[Timesurfer]

I have met many CEOs of big companies who have openly stated they find shares glorified gambling. Many of these CEOs having nothing to show for it but broken marriages, many office flings and many drunken experiences.

Money isn't everything - and for those to whom it comes easy it tends to depart just as easy, but those of us who worked a little harder for it tend to treat it with a little more respect.

Talked to someone today who had early dealings with SML and was impressed with culture within the company - happy dedicated staff. Not sure what it is like at A2 but one would imagine the board set the tone that flows down. Important for the long term health of a company.

[Beagle]

Once was an accounting eagle,
who squawked on ST like a sea gull.
Changing his tune,
now howls at the moon,
and barks all day like a Beagle.

:p


LOL too funny, derserves a respnse

There once was a cat with very sharp claws
who decided to put life on pause
he strayed away for many a day
to ponder the meaning of life
and came back one day all spotty to play
determined to avoid any strife :)

[Sideshow Bob]

Disaster of a week for A2.

[couta1]

LOL too funny, derserves a respnse

There once was a cat with very sharp claws
who decided to put life on pause
he strayed away for many a day
to ponder the meaning of life
and came back one day all spotty to play
determined to avoid any strife :) HaHa classic response.PS-Your both wasted on here, your true callings like in the Poetry field.

[couta1]

Disaster of a week for A2. No point crying over the spilt milk, it's time crack open a few real drinks for consolation.

[Baa_Baa]

Disaster of a week for A2.

Bounced nicely off the 200DMA (log scale). Not all bad, see if it sticks.

[Snow Leopard]

A high flyer called Jayne came to work
and milk A2 for all it was worth
the shares in her hand
sold for a few grand
and the share price came back down to earth.

[Beagle]

The spotty leopard had a break
and went and ate a lot of steak
the mysteries of life posed him no strife
and he came back a poet without even knowing it :p

[Baa_Baa]

Bounced nicely off the 200DMA (log scale). Not all bad, see if it sticks.

Spoke to soon, ATM bounced, but A2M didn't it closed 5 cents below.

[Toulouse - Luzern]

A high flyer called Jayne came to work
and milk A2 for all it was worth
the shares in her hand
sold for a few grand
and the share price came back down to earth.

Classic stuff.
Enjoyed it.


Many view that the board and Jayne's behaviour to date appears an inept, inauspicious beginning.

Many tend to agree, too little thought seems apparent by those at the top.

Lets hope the payoffs from strategic and operational choices by the same group in the future for ATM more than make up the lost sharecap.

[minimoke]

Disaster of a week for A2.I've been well and truly thrashed by the Milkugly Stick this month. What with holding ATM and SML. Only thing healing the wounds is a decent run on other shares. Portfolio overall down with Sept wiping out August gains

[whatsup]

How does one go about including a item on the agenda of the forth coming AGM censoring the CEO for her ill timed decisions in selling her gifted shares so soon after her appointment to her new role ?

[carrom74]

Not sure how many CEO”s of companies in excess of $1billion market capitalisation has a base salary of $1.5 million(is that what she gets?)... if that’s the case then the only way she can make money is to sell their equity options..I guess..

[Ggcc]

How does one go about including a item on the agenda of the forth coming AGM censoring the CEO for her ill timed decisions in selling her gifted shares so soon after her appointment to her new role ?
I would not like to be her in this up and coming AGM. It will be civil, but there will be some hard questions coming her way (well one would hope so). Many CEOS of major companies have a tough exterior which takes a lot to penetrate, but they are human and have emotions.

Many shareholders have lost money since she sold and if she did not need it all for tax purposes, why did she sell all her shares? Does she see the share price falling in the future due to lagging sales? These are some of the questions I would love answered from her.

[Beagle]

I've been well and truly thrashed by the Milkugly Stick this month. What with holding ATM and SML. Only thing healing the wounds is a decent run on other shares. Portfolio overall down with Sept wiping out August gains

Licking my wounds too.

[longy]

I've been well and truly thrashed by the Milkugly Stick this month. What with holding ATM and SML. Only thing healing the wounds is a decent run on other shares. Portfolio overall down with Sept wiping out August gains

I feel your pain. I also hold KTD. At one point I got 160% gain, and just a few days ago... -20%. Ouch! However, over all I am still up with ATM.

[winner69]

How does one go about including a item on the agenda of the forth coming AGM censoring the CEO for her ill timed decisions in selling her gifted shares so soon after her appointment to her new role ?

‘censoring’ seems appropriate - meaning ‘to remove anything offensive from books, films (and companies)’

But being censured will do ....especially if publicly recorded

[Raz]

‘censoring’ seems appropriate - meaning ‘to remove anything offensive from books, films (and companies)’

But being censured will do ....especially if publicly recorded

Thanks for everyones contributions to this thread, its is so funny... reduced me to tears:-)

[waikare]

Thanks for everyones contributions to this thread, its is so funny... reduced me to tears:-)

In reference to our CEO: One ungrateful person, does an injury to all needy people.

A quote by Syrus, Publilius

[winner69]

Thanks for everyones contributions to this thread, its is so funny... reduced me to tears:-)

Hey Raz .....some don’t think current affairs are funny ....and they like you have been reduced to tears (of a different sort)

[Timesurfer]

Could be worse https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12134417&ref=NZH_fb

[kiwi_crusader]

Fresh A2 Milk in Christchurch this week, well I think it was A2, hinding down on second to bottom shelf. 10010

[Leftfield]

Fresh A2 Milk in Christchurch this week, well I think it was A2, hinding down on second to bottom shelf. 10010

Looks like the new Anchor A2 to me.

[allfromacell]

When was this photo taken? Milk goes off in a few days if just taken today...

[thestg]

When was this photo taken? Milk goes off in a few days if just taken today...

I have found that the Anchor A2 lasts a lot longer after the best before date (10 days after & still good)

[Raz]

Hey Raz .....some don’t think current affairs are funny ....and they like you have been reduced to tears (of a different sort)

Sour as Elon Musk ah. Serious I am holding and have an unrealised loss this past week on my parcel, at some point you do have to laugh how perverse the situation is, this whole thing by the board has been amateur hour IMHO. I have enjoy the response by many people including their wit and humour on the thread given the circumstance. Go on find that winning attitude again:)

[Ggcc]

When was this photo taken? Milk goes off in a few days if just taken today...
I generally see that in Napier’s Pak n Saves Anchor milk and A2 Anchor milk are best before similar dates. I have also noted they don’t control their stock dates as well as I do for both milks

[Bjauck]

I've been well and truly thrashed by the Milkugly Stick this month. What with holding ATM and SML. Only thing healing the wounds is a decent run on other shares. Portfolio overall down with Sept wiping out August gains A bad month for ATM this month but it is still up by over 7% over your two month Aug-Sept period (and SML finished the 2 month period about even.) So the milkugly stick was not as ugly as some other holdings over the period?

My FPH holding performed worse than my ATM over that period.

[minimoke]

A bad month for ATM this month but it is still up by over 7% over your two month Aug-Sept period (and SML finished the 2 month period about even.) So the milkugly stick was not as ugly as some other holdings over the period?

My FPH holding performed worse than my ATM over that period.Milky White is a delicious thing with creamy scrumptiousness rising to the top. So thats my expectation - SP gently rising even when some bugger shakes the bottle. I'm hoping there's no long term exposure to the Milkugly Stick as it may just cause this thing to curdle. Gently shaken, not whipped is the secret!

[bull....]

not looking like a good start to week for the asx at the moment

NZ officials keep a watching brief on China e-commerce rules
maybe a warning sign for a2

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12133682

[Beagle]

not looking like a good start to week for the asx at the moment

NZ officials keep a watching brief on China e-commerce rules
maybe a warning sign for a2

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12133682


Different ways you can look at this. Comvita and Synlait executives don't seem concerned and believe it could be benificial and Jayne is a recidivist trougher so nothing can be reliably implied from her recent misdemeanors. Is the glass half full, half empty or simply half a glass ? It all depends upon your perspective and guess what ? confirmation bias is a very powerful subliminal force that very easily shapes ones perspective. Keeping an open mind is much much harder than anyone really wants to acknowledge.

[thestg]

Australia markets will be opening at 1pm NZ time as their DST doesn't start till next Sunday

[Leftfield]

Different ways you can look at this. Comvita and Synlait executives don't seem concerned and believe it could be benificial and Jayne is a recidivist trougher so nothing can be reliably implied from her recent misdemeanors. Is the glass half full, half empty or simply half a glass ? It all depends upon your perspective and guess what ? confirmation bias is a very powerful subliminal force that very easily shapes ones perspective. Keeping an open mind is much much harder than anyone really wants to acknowledge.

Here's another viewpoint for those with open minds from 'Tough Day' over in the Hot Copper thread FYI.

"I’m not happy with the CEO or Directors selling shares either but
I’m sure nothing sinister with the shares being sold or her CEO business career is finished!!
Let alone possible class actions against the company for insider trading etc.., there is no way Peter Nathan or the rest of the BOD would allow that to happen otherwise it would be career suicide for themselves as well
The whole BOD are all on a winning Tatts ticket (as JH said ) and there is no way they will risk it for anyone or anything!!
The BOD wanted JH and she had her terms and conditions to be the new CEO!

JH has her families financial reasons for selling the shares, the BOD knew what was going to happen once the shares were sold and they accepted this knowing long term JH is the right person to lead the company forward!!

More importantly a2 IF according to my sources and research is that supply is increasing strategically but demand is quadrupling $$
Empty shelves are proving this and Synlait is running 3 shifts a day to be operational 24 hours a day, they bought a new plant which was being built at the time and is now operating and they are building a new plant
Remembering we own 17% + of Synlait so we’re winning there too
A few years ago a2m revenue was in 2015 $155m now reports are saying 2019 could be $1.3B + with forecasts of compounding growth at 20% next 10 years
I think we’re going pretty good if your expecting better your not being realistic or just a shorter playing Russian roulette .....

....We all have a winning ticket just be a long term holder and you will win"

(Disc holding)

[steveb]

After looking ar Mr Beagles comments regarding the glass half full etc, it got me thinking of the old cadbury's glass and a half advertising.Wonder what A2 chocolate would be like.Perhaps the hound could sniff out the pipeline and see if there are any plans for some choccy treats!

[peat]

Wonder what A2 chocolate would be like.
Do people who cant drink (A1) milk also avoid chocolate for a similar reason.
Lol - I reckon not so many

and anyway its all in the infant formula.....

[see weed]

After looking ar Mr Beagles comments regarding the glass half full etc, it got me thinking of the old cadbury's glass and a half advertising.Wonder what A2 chocolate would be like.Perhaps the hound could sniff out the pipeline and see if there are any plans for some choccy treats!
Hi steveb, I asked Geoff B that question a couple of years ago at the AGM. But cannot remember the exact answer. I think they may have been content pushing the inf. form. where the money is... China,Aussi etc.(Forest was there that day, he might remember). But down the track maybe choc. milk. I believe would sell like hot cakes. So we can sell healthy a2 to the a2 drinkers, and choc. a2 to the rest who don't normally drink a2 but like drinking chocolate whether a1 or a2. Win win with a grin.:)

[tipsy]

Hi steveb, I asked Geoff B that question a couple of years ago at the AGM. But cannot remember the exact answer. I think they may have been content pushing the inf. form. where the money is... China,Aussi etc.(Forest was there that day, he might remember). But down the track maybe choc. milk. I believe would sell like hot cakes. So we can sell healthy a2 to the a2 drinkers, and choc. a2 to the rest who don't normally drink a2 but like drinking chocolate whether a1 or a2. Win win with a grin.:)

Think they already do chocolate milk in the US.

Thought I should try and cheer a few people up with a few reviews, https://www.productreview.com.au/p/a2-full-cream.html

Some of them do really highlight the power of the brand, with numerous people advising only to go for the bona fide A2 branded milk.

[Leftfield]

Early days, but it will be interesting to see how the new USA Mexico Canada Trade deal pans out for A2. Here's what CNN is reporting today;

"In a win for the United States, USMCA will open up some of Canada's dairy market to US farmers. The issue was a big sticking point between the two negotiating teams.
Under the original NAFTA, Canada limited how much milk, cheese and other dairy products could come in from the United States.
But under the updated agreement, Canada will set new quotas for the United States. It will increase market access for US dairy, poultry and eggs. In return, the United States will allow more Canadian dairy, peanuts and peanut products, and a limited amount of sugar to cross the border, according to a document from US Trade Representative's Office.
Canada has also agreed to end a system that had kept the price of some milk products, including milk protein, low. This change will also allow more US dairy products to enter the Canadian market."

[Beagle]

After looking ar Mr Beagles comments regarding the glass half full etc, it got me thinking of the old cadbury's glass and a half advertising.Wonder what A2 chocolate would be like.Perhaps the hound could sniff out the pipeline and see if there are any plans for some choccy treats!

I'll keep my nose to the ground and sing out if I sense anything coming :)

[davflaws]

Beagles have a very sharp nose for edible goodies. That is why MPI use them at the border.

[winner69]

Morningstar say cheap cheap ...on their top 10 list

http://www.sharechat.co.nz/article/7908a7ea/morningstar-adds-a2-milk-to-top-10-stock-picks-across-australia-nz.html?utm_medium=email&utm_campaign=Morningstar%20adds%20A2%20Milk%20to%2 0top%2010%20stock%20picks%20across%20Australia%20N Z&utm_content=Morningstar%20adds%20A2%20Milk%20to%20 top%2010%20stock%20picks%20across%20Australia%20NZ +CID_e3ed519f75bca0b0de8f62083b327056&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle7908a7eamornin gstar-adds-a2-milk-to-top-10-stock-picks-across-australia-nzhtml

[bull....]

Morningstar say cheap cheap ...on their top 10 list

http://www.sharechat.co.nz/article/7908a7ea/morningstar-adds-a2-milk-to-top-10-stock-picks-across-australia-nz.html?utm_medium=email&utm_campaign=Morningstar%20adds%20A2%20Milk%20to%2 0top%2010%20stock%20picks%20across%20Australia%20N Z&utm_content=Morningstar%20adds%20A2%20Milk%20to%20 top%2010%20stock%20picks%20across%20Australia%20NZ +CID_e3ed519f75bca0b0de8f62083b327056&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticle7908a7eamornin gstar-adds-a2-milk-to-top-10-stock-picks-across-australia-nzhtml


so that means expensive if morningstone say so.

anyway a2m failed to at the 61.8% mark so im looking for lower

[minimoke]

Director, Peter Hinton also selling: 25,000 sold on 26/9. Leaves him with 625,000

[steveb]

Hey bull I was just about to top up it's $11.08,do you think it will break the $11.00 mark?

[Muppett]

so that means expensive if morningstone say so.

anyway a2m failed to at the 61.8% mark so im looking for lower

It sure does mean expensive, more sell off by Board members. $10.50 not too far away.

[King1212]

Another director selling....ehmmm

[winner69]

Director, Peter Hinton also selling: 25,000 sold on 26/9. Leaves him with 625,000

Last time he sold 100,000 at $13 odd in March

Must be getting worried about losing so much wealth

[Muppett]

Last time he sold 75,000 at $13 odd in March

Must be getting worried

Indeed, excluding brokerage he sold for $11.91.
Smart people the Board.

[bull....]

Another director selling....ehmmm

its ominous when the ceo and directors selling , they generally have a good feel for how things are going

[bull....]

Hey bull I was just about to top up it's $11.08,do you think it will break the $11.00 mark?

just did , wow i was just thinking bottom of the range here we come again

[peat]

Director, Peter Hinton also selling: 25,000 sold on 26/9. Leaves him with 625,000

its only just enough for a decent deck !

[Ggcc]

I don’t like how all these directors are selling, but honestly directors don’t know what people are prepared to pay for a share more than you and I. They maybe undervalued or overvalued.... They only have small windows of opportunity to sell their shares and usually if one does the flock follow. This director only sold 25000 shares of his huge amount, no need to panic about that amount possibly a good time to buy if you believe the story

[minimoke]

its only just enough for a decent deck !Expect another "sell" notice when he needs to raise some cash for the deck stain.

[Ggcc]

Expect another "sell" notice when he needs to raise some cash for the deck stain.
https://youtu.be/FGMkEfuWZHM

This reminded me so much about this video. I hope the link works. It may not be pg so please I apologise if it offends anyone

[bull....]

savage sell down into the close in aus .... 10.82 nz?

[winner69]

savage sell down into the close in aus .... 10.82 nz?

Hell’s bell

Not a good end to week tomorrow?