Disappointing for us,however good for Seeka,and others.
https://business.scoop.co.nz/2022/07...s/#more-224397
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Disappointing for us,however good for Seeka,and others.
https://business.scoop.co.nz/2022/07...s/#more-224397
Virtual Publication - Farmers Weekly - Page 11
"SFF a solid vessel for choppy waters"
...........................
I asked SSF CoOp investor relations man why NZ Companies office stated there are 113,857,802 shares on issue,while their annual report states 100,379,000.
Here is the reply I received,
We are in the process of reducing the Companies Office number to 111,131,51
This number includes rebate shares that remain on issue. In the balance sheet they show as a current liability ($10.799m) – Members rebate shares. They are reported this way as the holders have the option to seek surrender of those shares at a fixed amount of $1 per share. They are eligible for dividends and patronage rewards.
The current split is:
Ordinary fully paid shares 99,321,983
Partly paid 1,056,891
Rebate 10,752,640
Back and better! (ruralnewsgroup.co.nz)
The comment about trading 20% above 5 year average is an interesting one.....
If take that as profit (which is what really counts), given break-even/losses in 2017/18, the "5 year average" is less than the last 3 years, and close to half of last years record result.
So it sounds positive on face-value, but perhaps isn't so much??
Still lament the lack of clear guidance through the year, and lack of half-year result. I believe would definitely benefit from more disclosure.