Whats happening with this company Dudes [?]any of you dudes got any views on A2 Corporation Limited [?]
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Whats happening with this company Dudes [?]any of you dudes got any views on A2 Corporation Limited [?]
The share consolidation has been a bit of a disaster falling from $0.40 (or $0.08 per old share) to about $0.20 (or $0.04 per old share).
No news about the IdeaSphere payment of US$400,000
Classic situation - gloom and despondancy grows around the perception that a small biotech is failing to make revenue targets.
Further, Jim Guthrie has resigned at seeming short notice from the board due to ill health. It seems being an ATM Director is a very hazardous occupation.
More gloom and despondancy that maybe the firm leadership is not stable and strong.
Next opportunity for an information update is the agm on the 29th June.
Prognosis: gloomy with outbreaks of despondancy until either the new strategy seems proven or fails. The share price will either go up significantly or go down significantly - cannot see it staying where it is much longer.
@/1 renounceable issue :whats the deal & thaughts:is ATM worth it anymore?
The following link is a good summary of the science behind A2 Corp:
http://www.lincoln.ac.nz/amac/woodford_pdf/a2milk.pdf
There is good cause to consider the A2 Corp patents may be of significant value.
However, the A2 Corp business is another question (or mystery, as the case may be). The next "strategic" plan promises a profit in three years. The price is a $5mill capital raising.
For the life of me, I cannot understand why Fonterra are not interested in this company. There is about as much evidence that A1 milk is "bad" as there is that smoking is "bad". Imagine the global competitive advantange of selling A2 NZ Milk products with the current weight of scientific evidence behind it. Milk into asian markets is promoted as a "health food" - asian families target their young with "healthy" milk compared with traditional diets.
Why doesn't Fonterra see A2 Milk as a marketing goldmine?
Enum---, because its(A2) is some one elses business,a nd the reason ( most probably that A2 was set up in the first place ) was in the hope thar Fon---, would make a play/takeover for it which is/was what the promoters were/would be hoping for in the first place!!! Does that make sence?
I read in the press that the health status of recent asian immigrants has deteriorated significantly upon entry and domicile in New Zealand. Since the health status of these individuals is very carefully established, this is an excellent source of information on factors which may degrade the health of populations.
One factor could be the change in diet. Specifically, non-A2 milk.
Isolating this factor is very difficult (given how non-A2 milk proteins are pervasive in our modern diet of processed foods). However, as an indicator, this study may be quite useful.
A2 LAUNCHES MILK INTO LUCRATIVE US MARKET
Major Supermarket Chain Hy-Vee to sell a2 milk(TM) across US Mid-West.
Auckland, 24 April 2007 - A2 Corporation announced today the inaugural launch of its premium a2 milk(TM) into the US market through an exclusive deal with a leading supermarket chain.
A2 Corporation's United States subsidiary, A2 Milk Company LLC, in partnership with Original Foods Company LLC, will launch its value-added a2 milk(TM) product through the leading US supermarket chain, Hy-Vee, which has stores throughout the Mid-Western states comprising Nebraska, Iowa, Kansas, Illinois, Missouri, South Dakota, and Minnesota.
Hy-Vee has sales of more than US$4.6 billion and more than 200 retail stores across the seven Midwestern states, and ranks among the top 15 supermarket chains in the United States.
Anthony Lawler, CEO of A2 Corporation says the launch of a2 milk(TM) into the United States is a major platform for growth and follows several years of solid preparation.
"A2 Corporation is very excited to now have its milk product available in the US market which holds tremendous promise for revenue growth and for expanding our business in one of the biggest consumer and beverage markets in the world. We are also very pleased to have achieved entry into the lucrative US market according to the time frame we set last year and look forward to increasing our share of the market as US consumers develop a taste for a2 milk(TM)," says Lawler.
Tim Thietje President of The Original Foods Company says that the company is glad to be the first U.S. based company to partner with A2 to produce a2 milk(TM) for sale to American consumers.
"After two years of planning and hard work, The Original Foods Company is very excited to launch The Original Foods Company a2 milk(TM) into more than 200 Hy-Vee Food and Drug stores across the Mid-West. a2 milk(TM) delivers on our mission to sell premium quality, natural and functional foods, and our close working relationship with A2 and Hy-Vee supermarkets offers the opportunity to work with partners that share our vision," says Thietje.
Lawler also says that the launch of a2 milk(TM) into the US follows a concerted programme to develop the market which the company has been working on for some time and which it plans to extend beyond the Mid-West. Lawler would also like to thank Ideasphere Inc. (A2 Corporation's joint venture partner in USA) whose effort, support and expertise has been critical in the a2 milk (TM) launch.
Cliff Cook, A2 Corporation's Chairman stated that "the company now knows the US beverages market in detail via consumer and market studies as well as in depth discussions we've had with producers, distributors and retailers. We look forward to extending a2 milk(TM) beyond the initial select market of the Mid-West into other parts of the US which provides the best business environment in the world to grow our product."
ENDS
Are Kiwi's big drinkers of A2 milk? I must try some if I can find it in Wgtn
It appears A2's biggest market is currently Australia although not a profitable operation historically.
From A2's last few annual reports they haven't managed to generate any significant cashflows or profits for the last six years.
Can anyone see 200 outlets in the US changing this?
What revenue size could A2 grow to in the next 5 years? $10 million sales?
I can't see any significant cashflows/profits occuring in the short term (next year or two).
As a negative overhanging the shareprice is the dilution effect of this years proposed rights issue (yet to be outlined in detail but announced in the interim report) for X amount as they need additional capital to strenghten their balance sheet and to further market their products.
Interesting product and Patents but execution into a healthy business with strong cashflows and profits has yet to occur after six years in the development phase.
The sad thing is that it looks like Foodtown/Woolies have discontinued sales of A2 milk. Maybe Foodstuffs continue to stock?Quote:
quote:[i]Originally posted by D_Pick
Are Kiwi's big drinkers of A2 milk? I must try some if I can find it in Wgtn
The tragedy is that there is as much evidence that A1 milk damages your health, in scientific terms, as there is that smoking damages your health. (If you give credence to epidemiological studies).
Andrew Ferrier - who used to market one form of "white death" and now markets the other - take note!
Found a two litre blue top bottle of 'New Ridge A2 - organic Un Homogenised - standard milk' for $5.95 here in Wellington, not sure if it was the organic or the A2 that supports the price ... premium. Commonsense Organics are generally premium prices for everything in store.
Must say as a virgin A2 drinker I enjoyed the taste. Does A2 taste any different to A1? I assume it doesn't so therefore it must have been the organic bit that was tasty?
Can't say it is widely available in Wellington with only about five shops selling A2. By any account that equates to low market penetration especially after six years of business.
How much money per litre is A2 Corporation receiving in licence fees I wonder from its two NZ licensees, or any of its international licensees for that matter?
Enumerate do you still drink A1 milk after all the scientific evidence?
I have no choice - milk products are included in so many processed foods. So, I cut down on process foods; don't have milk in drinks; never drink milk or derived products; try to buy milk where the Swahili buy it ...
Was an A2 drinker when I could find it - New Ridge A2, it was.
It is most important not to give A1 milk to children. Implicated in ADHD, autism, diabetes.
If I had the beginnings of Parkinsons - I would stop drinking A1. If I had diabetes - stop drinking A1. Any disease pathogenesis that involves oxidative or nitritive damage - stop drinking A1. Psoriasis was implicated, in some states - not sure where the studies are at on this.
There is alot of information on the web. The company published a full page ad in the Herald - which I kept - on the benefits of A2.
Fonterra are hostile to the product, in the NZ market. I suppose they don't like their milk products described as "poisonous". However, you can breed for A2 and bull stud services, with the A2 gene, are on the market. Fonterra has got to be one of the stupidest organisations for not separating A2 milk.
A1 is fine where the beta caesine is processed, enzymatically, or eliminated from the product (eg cheese). It is just that in human digestion A1 generates BCM7 as a deadly byproduct.
Here is a great link on the background:
http://cmsapp1.lincoln.ac.nz/site/st...bate_s3292.pdf
This might explain why Australia and US are better targets for ATM:
Quote:
quote:
A2 milk has been marketed in New Zealand since about March 2003 and is slowly becoming increasingly available. In Australia the uptake has been faster, largely due to considerable television exposure on current affairs programs on Channels 7 and 9 (the major commercial channels) and also the ABC (which ran a forty minute ‘Four Corners “
documentary in 2003). Currently, daily sales of A2 milk in Brisbane alone are believed to exceed total NZ weekly sales, despite the later start-up in Australia. The growth in the Australian market is currently constrained by the rate at which cows can be tested and theA2 herds set up.
Some reasonable trades happening in ATM atm. Looks like someone wants a reasonable stake ...
Anyone know how the Joint Venture discussions in Australia are progressing with Freedom Nutritional Products Ltd?
A good gain today +20%
Joint venture agreed with Freedom Nutritional Products
GENERAL: ATM: JOINT VENTURE WITH FREEDOM IN AUSTRALIA AND JAPAN
https://www.directbroking.co.nz/Dire...spx?id=1598923
ATM Annual Results were announced on 14/6:
http://www.nzx.com/market/market_ann...pany?id=149151
-------------------------------------
In Summary, revenue is up 518% to 7.6m. Loss is up 448% to 5m.
Increase in revenue is due to buying back the A2 Australian business. The announcement stated the increased loss was due to "a combination of the investment in the a2 milk(TM) launch in the US market as well as resuming control of the important Australian business operation."
As an ATM shareholder I've been happy with the company's performance this year. The goals set out were, in the main, achieved and the American launch seems to be going well.
I'm looking forward to see if ATM can build on this momentum over the 07-08 financial year.
This mob seem to have got a lease of life lately something is pushing the sp up I used to own this stock but sold out, hindsight a wonderful thing, what did Buffet say never ever sell, well hind sight again.
Someone wants a bit of a stake. The accumulation has been going on for a while now. I am reminded that even at the current price levels the stock is worth less than it was prior to the share consolidation. This is another example where "averaging down" pays off ...
It seems as if the Australians and the Americans "get" the idea of ATM. I am seriously surprised that Fonterra hasn't moved to make NZ herds - A2 herds.
The costs associated with the gene test are also coming down, massively. This will transfer directly to the bottom line.
This article might have helped the shareprice as well.
A2 milk seen as key to the nation's dairy future
http://www.nzherald.co.nz/section/3/...ectid=10446483
There was a recent news article saying A2 was the only way NZ dairy could keep competitive in international market. Also they said most of NZ current dairy herd is A2 but mot of our breeding bulls are not so we seem to be drifting away from A2 production at the moment. I'm not sure of these facts but they were in a recent ODT.
FarmerGeorge see link in my last post. Article was suggesting the opposite
Article was quoting comments from Lincoln University farm management and agribusiness professor Keith Woodford
Quote:
quote:
Coincidentally, while the majority of New Zealand's cows produced A1 milk, most of the country's top bulls were genetically A2, he said.
......
He said that around 500 farmers in New Zealand were now intentionally mating their cows using A2 bulls as a "risk management strategy", and suggested Australian farmers were being left behind on the issue.
Hi Enumerate - I'm interested as to why to think this. Most of the trades seem pretty small so I thought the main reason for the increased demand was quite a few small guys wanting in rather than someone accumulating a bit of a stake.Quote:
quote:Originally posted by Enumerate
Someone wants a bit of a stake.
I'm wondering if ATM has got a bit ahead of itself or if there are still legs in this run yet. I'm happy to hold and wait and see for now, I put 50% of my shares up for sale at .30 a few days ago (when it was trading at around .22). 30c seemed miles away then but I'm glad now that they didn't sell :)
Its difficult to tell the difference between small guys getting in and a single holder accumulating. None of the big guys are selling; to build a stake you need to take out quite a number of small holders.Quote:
quote:Originally posted by corran
Most of the trades seem pretty small so I thought the main reason for the increased demand was quite a few small guys wanting in rather than someone accumulating a bit of a stake.
This is "classic" biotech pattern:
- Initial holders hanging in there - price holds up;
- "Stale Bulls" - makes newer and lower lows
- Dark days - low volume, low price
- Explosion - driven by "events", price surge
Usually it is best to sell on the exuberance and buy back later. This can be usually be done a few times. However, I tend to hold the stocks I like - I am petrified of being "out" when the market discovers the value.
This stock would do much better on the ASX.
All things Diary are good news for investors at the moment. A bit of this sentiment is probably flowing over into support for A2's shareprice.
I'm a shareholder of A2 as of a month or so back and very happy with the last couple of weeks shareprice performance.
Going forward I'm happy to stay a shareholder as I like the tone of the Chairmans (Cliff Cook) communications over the last year or so. They all have a positive future outlook for this company.
Any new longer life products with better margins has to be good news for A2.
A couple of comments I especially liked from the recent FLLYR announcement dated 14th June 2007.
Quote:
quote:"A2C has turned the corner with its reinvestment in Australia and launch into the US market."
Cook states that A2C is actively pursing new product opportunities other than liquid milk.
"We see the potential for a2 milk(TM) to be used in a wide array of functional milk-based applications such as infant formula, protein powders and dietary supplements. These additional opportunities will allow A2C to launch shelf stable, high margin products, which will provide consumers worldwide with the premium benefits of a2 milk(TM)".
Yes, I agree.Quote:
quote:Originally posted by D_Pick
Going forward I'm happy to stay a shareholder as I like the tone of the Chairmans (Cliff Cook) communications over the last year or so. They all have a positive future outlook for this company.
The company has a bit of the "suppressed science" tone to it. The fact that BCM7, the metabolic by-product of A1 beta caesine, causes so many blood lipid problems and is something that Fonterra wants to keep quiet. The solution is so simple ... the benefits are manifest ...
I have been a holder for a very long time - before the share consolidation. Current pricing is still lower than my entry. Fortunately the vast bulk of my holding was acquired during the darkest days.
When you think of upside revenues for this stock - some very very large numbers are possible.
With another book being released about the advantages of A2 milk it will be interesting the affects on the share price over the next few days.
I am firmly of the belief that A2 milk could be a very significant development for the dairy industry. Ignoring the science, for a moment, the marketing "spin" is a golden gift if you want to differentiate NZ milk production from the rest in new and emerging markets.
Technical advances in gene testing technology mean that the base costs of the company in certifying herds are dropping through the floor. Hopefully the value of having an A2 certified herd and the value of the brand will mean that this translates to increased margin.
Of course, an organisation like Fonterra should wake up to the value here. For the moment, A2 is building A2 herds in the US and Australia ...
Looks like the recent A2 health interest, and the accompanying share spike were taken as an opp by larger holders to sell down.
I thought I heard in radio commentry that Fonterra has A2 bull semen already and could if it wished, have an all A2 heard in a short period of time.
Anyone know:
1 How does A2's control over its intellectual property allow it to make money from Fonterra (if at all)?
2 How much (i.e. to what extent and for what period) protection does their intellectual property have, non NZ i.e. world markets. For example can it easily be copied/duplicated by others and not infringe on A2 rights?
Patents protect gene tests and Trademarks protect the A2 brand.
If you are going to certify a herd as A2 you need access to both sets of IP.
It is no use saying - "We think we are dominant A2-beta-caseine" - much easier to say "A2 Milk" - you need a license to say that.
Patents are of the order of 18 years - Trademarks are more or less forever.
more than 4 years since the last post on this thread! anyone still watching or holding ATM?
I've got a few tucked away in the bottom drawer, I don't follow them closely but saw they recently announced their first ever annual profit. Share price is up about 100% so far this year.
I brought 25,000 replacing my Charlies as a my speculation stock a few months back. They don’t appear to trade all that often, going on memory I don’t think any were traded at all last week, but today 243,000 went through closing at $0.23. I'll also have put mine in the bottem draw, and will have a look in about 4years, thats if Fontera havn't taken them over before that.
Well done to holders and good to see an NZ company make it from start-up to profitable business!
However, while it seems like the risk around investing in ATM has reduced, if I was holding, I'd be considering taking some profits.
While a maiden profit is a great result, it is difficult to see the kind of significant growth in NPAT for 2012 that would justify a PE of 55. And while it appears the market has room to expand, it is likely to require a significant amount of capital to achieve growth, unless they use the royalty approach.
I guess the reality is that at least half the value in the shares is coming from the intellectual property assets rather than the operating business. A much more tricky area to value and requires a bit more knowledge and time. However, unless the IP is sold to a larger entity via takeover or royalty, it is going to require ongoing capital to extract value from it, which would tend to mean ongoing dilution.
Can't rule out a sudden takeover announcement - still small enough that someone might offer a premium to get the IP - but, personally, I don't generally invest on speculative binary outcomes, as I find it too hit and miss.
Yesterday ATM went up 2 cents from 25 and today went up another 5 cents to 30. Over 30% in two days. Perhaps it time to heed your advise Lizard and take litle profit. Or maybe hang on a little longer, after a few more details emerge from todays news release.
A2 Corporation Limited is pleased to announce an expansion of its operations into the United Kingdom and Ireland. The Company has today entered into agreements to establish a sales and marketing joint venture in association with Robert Wiseman Dairies PLC (Robert Wiseman).
Todays medis release, a good result, I guess this company has a future
A2 more than triples 1H net profit as sales jump 56%
Tuesday 21st February 2012
Text too small?
A2 Corporation, the NZAX-listed alternative milk company, said first-half net profit more than tripled, boosted by a legal settlement, as sales jumped 56 percent.
Net profit rose to $3.1 million in the six months ended Dec. 31, including a $1.1 million settlement of a legal dispute with a former Korean licensee, compared with $900,000 in the same six months of 2010, it said in a statement.
Sales rose to $30.1 million from $19.3 million with the vast majority of revenue in Australia where the company said it now has 4.7 percent of fresh milk in the grocery category.
Chairman Cliff Cook said the company's results were very pleasing in the face of price discounting of fresh milk in Australia.
“While the Australian supermarket chains are going head-to-head in discounting standard milk, a2 brand sales have continued to accelerate with no change in our pricing,” Cook said.
Managing director Geoffrey Babidge said the growth is “consistent with our growth strategy to position a2 as an innovative, fast-moving consumer goods and ingredients company with a global focus.”
Rising Australian sales “demonstrate that consumers in this market understand the a2 brand proposition and are willing to pay a significant premium over standard milk for our products,” Babidge said.
A2 claims its milk is healthier than traditional A1-type milk although those claims haven't been backed by scientific evidence.
The company plans to launch in Britain later this calendar year and is looking at expanding into other markets “in the not too distant future.”
It is working on introducing an a2 branded infant formula in a market in Asia, he said.
It is also “continuing to explore opportunities” with its New Zealand licensee to build brand awareness and sales “consistent with the successful business model in Australia.” New Zealand sales were just $1.7 million of which just $3,598 was to external customers. New Zealand sales to external customers were reported as $214,417 for the six months ended December 2010.
A2 will commission its own A$8.4 million fresh milk processing facility in Sydney later this month and initially it will supply the New South Wales market while existing contract processors will support growing demand in other states of Australia, the company said.
A2 didn't declare a dividend. Its shares are up 1 cent at 26 cents, down from their high at 30 cents last November but up from the 11 cent low in March last year.
IRG have recommended A2 Corp as “Speculative”
I find this a little odd as they have been in the black for the last year, their revenue has increased 56% for the 6 months period ending Dec 2011 to $30 mill. With a profit of $3.1 mill. They are in the process of selling their milk in the UK, so this should add to their income big time.
Currently trading at $0.43 (been high as $0.45)
Macquarie Research today
Price catalyst
12-month price target: NZ$0.56 based on a Sum of Parts methodology.
Catalyst: FY12 results announcement in September, strategic review results,
infant formula strategy announcements.
Action and recommendation
A2 Corporation continues rapidly down its growth path. Notwithstanding
some small operational issues in Australia, it continues to hit its development
targets. With the potential for a value enhancing transaction and development
of new markets we remain comfortable with our investment thesis.
Outperform maintained.
Managing to get in the news papers in the UK.
http://www.dailymail.co.uk/health/ar...nsitivity.html
Me too.would they have a trading halt for that though?
I have been expecting the NZX Main Board announcement, but it has also been written elsewhere they have been contemplating listing on ASX or another Asian Exchange. http://www.weeklytimesnow.com.au/art...661_dairy.html
Just looked at their market cap - $400m!!!
Why are they still on the NZAX?
They only have $37m of equity and $10m of that relates to goodwill. PE of 89 (all per Google) so a growth prospect?
Trading halt again. It was basically nothing they placed the trading halt. Wonder whether this time will be equally insignificant.
capital raising and sell down at 50c. Looks like existing shareholders are being screwed. That is a massive discount. No SPP or rights issue to avoid dilution. This is a pity.
I have no position, but am disappointed for retail investors.
I have recently bought some shares after selling my FPA Shares. At the same time I increased my holdings in DIL & BFW. I would have liked to taken part in SPP because it screws existing shareholders with dilution.
The minimum subscription to buy at 50c is $500K . I'm not that rich.
Did they give you a descent sized allocation of ATM?
I don't get it.
ATM is already listed and at anytime of any trading day, any investor is free to buy or sell ATM shares.
Why should it be any difference because a few big shareholders are selling down? Especially as the reason for selling down seems reasonable - i.e.. to facilitate relist onto NZX main board?
What size was the XRO placement in relation to the capital already on issue? How does that compare with the ATM placement? I know such placements do happen but generally the dilution should not be that bad. I remember when PGW did their initial placement of new shares to Agria, it was at a premium to market price. Mind you PGW does make real money (as does ATM), and XRO does not.
SNOOPY
ATM: prior to the announcement there 604 million shares on issue. They are issuing another 40mill.
Not that bad I suppose. Still there is dilution and inequality among shareholders
I'm only small investor compared to some investors who post here. I only have 5000 Shares in ATM, but I would have liked the opportunity to buy another $2000 worth at 50 cents.
I am also not impressed to see my holding being diluted, while I have to agree with Winner69, being a small investor has little clout in matters such as this instance they do want they want to do. But: the CEO / board needs to understand that they need small shareholders on their books, the likes of ATM would not be able to list on the NZX without us.
I also am disappointed that I didn't get the chance to buy more shares. I also am a small shareholder (33,000 shares) but I would happily have bought another 33,000 shares at 50 cents.
And like others I'm disappointed that the shares were sold at such a huge discount to market value
Rights issues aren't that hard. Pretty much a template document though there are additional costs involved and does take slightly longer than the 3-4 days this has taken.
The NZX (as a market operator) should try to discourage these discounted placements to the rich to try and encourage the small guys into the market.
The fact is, this is the way it works, us small guys just have to deal with it.
In my view, ATM is also a bubble on the market just like Xero. I wouldn't buy into it unless it is below 20c. As with any bubble, it may take an awful long time to drop to the actual value it is. But it is just not worth the high risk of bursting!
Well done the Bowman, a superbly negative post, i think you will pick some up later today at a real discount .
Looks like 52 cents soon?
So how many of those who expressed disappointment at not getting shares at 50 cents are now lining up to buy at 50/51 cents?
As with Fonterra, I only expressed disappointment with the process. I do not know enough about either to have been interested.
I also expressed disappointment at XRO not offering a placement to small shareholders (as they have done in the past) and I am very disappointed I wont be able to buy in at $6 which is probably a lot closer to proper value than 7.75 where I sold out. If it dropped down close to $6 again, I would buy back in.
I also bought into STU at just above the placement price though I viewed that differently as that was a shareholder placement, rather than a company initiated placement as is the case with ATM, FSF, and XRO.
Plenty of volume sellers now lining up at 53 cents. I can only see small scale retail buying at 52 cents.
Question of time before one breaks rank and it's 52 cents.
My point is that too many look at the pre-placement price of 68 cents and get themselves excited at 50 cents.
The market is not that dumb and the brokers would have canvassed their client base enough to assess that the placement had to be done at 50 cents to be successful. There was never any real opportunity to make a 20% or 30% gain, post the placement.
Sparky or anyone else who got in on the placement, were you scaled back?
I picked up some more at 54 cents. If the stock drops little bit more I'm not concerned about it. When I buy something, I look at the potential future growth over the next 3 to 5 years.
Just wrote the company an email expressing my disappointment.
Which broker did you get the shares through biker?
There must be some hacked off punters who bought into ATM in recent times but going forward it must be short term pain for long term gain surely.
One would hope, but nobody can predict the future.
Did you get any response Waikare/Slimwin? I am also an investor who had 8300 shares (small I realize) and didn't get the chance to buy in at 50c, but am thinking of buying some more shares on monday if the price stays this low. Even though the company did this, I still have faith in them and their ability.
I'm a very recent investor in A2, 1 week. Also sent email expressing my opinion of not being included and hoping for a different mindset in the future. Maybe enough feedback from small investors may sway future dealings. I won't hold my breath though. I am hopeful this will be a small hiccup that will translate into a great business. Time will tell. Of which I will give it. Unless I get screwed over again.
No reply expected from rant. I hope they get the idea to include the great unwashed next time they do a raising.
Does anybody expect another equity raising and if so what would it be for?
Given the massive drop in market Cap, I wonder if they will even make the nzx50 now? Now that would really be a stuff up.
To me, this is a good sign. Milford are a well managed firm who are offering great returns. I also observed that in there Active Fund they had 1.1% of the $333 million in ATM before the dilution. And just FYI, this fund has a return around the 15-20% mark this year as well.
50 cents sellers in volume.
All those of you who were complaining about access to stock at 50 cents, hope you are lining up to buy at 50 cents or 49 vents.
Do that or forever hold your peace.