greedy lawyers
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If you are selling a critical component into buildings, potential purchasers need confidence you will be around to deliver. This tilts the scales towards being well capitalised and could be a key factor in a capital raise then a high div payout.
If the level of capitalisation/debt has little or no impact on sales then lower/no dividends and a progressive repayment of borrowings over several years could work - assuming any high importance capital projects can still be done.
hype off 😢
Suppose this had too happen ....I take it amongst the most mumbo jumbo it’s actually a significant profit downgrade
The much touted $25m to be about $16m if I read it correctly ...even though everything going honky dory
http://nzx-prod-s7fsd7f98s.s3-websit...726/300091.pdf
Whether the $16m odd ebit is down from either the original often touted $25m or a ‘restated’ $21m the announcement is a bit of a disaster eh
This bit is a bit of a worry “New information has identified that approximately $4m of the significant inventory write-offs taken in FY18 were related to that year’s production process and should have been included in the assessment of cost of goods sold in FY18 normalised earnings.........but it didn’t impact F18 GAAP reported earnings”. Must think about what that really means
Patterson really needs to go. The board also needs to ask "what the F are they doing". FBU gave them an out and they did not take it. That was in my opinion very self serving of them. Shareholders need to vote these numpties out at the next available opportunity.
Capital raise last August .....all those new shares at $1.15
Sold on this -
FY19 EBIT guidance is of at least $25.0 million, with normalised EBIT of $35 million to $40 million expected to be achieved in the next three years.
I suppose the $40m is now a pipe dream as well.
Totally self serving. They're not there to represent shareholders interests and only interested in their own.
That's not enough. We need a shareholder activist like Bruce Sheppard to wear a Viking hat at the annual meeting and really rip these incompetent directors to shreds with a long series damming questions. I would oblige but I fear my blood pressure wouldn't allow it so owning shares is hazardous to my financial health and having to listen to that self serving bunch on incompetent directors at the annual meeting would be very bad for my physical health so probably best I stay well away !