Comvita - CVT

[Balance]

Much more than the weather going wrong with this pup ! SP pop this morning tells you the market had lost confidence in his abilities as a CEO...if he ever had any ? You need to clear some space in your PM's mate so I can PM you.

All tongue in cheek with this bunch of clowns running the company like a run down circus.

These guys live in a parallel universe where they are totally oblivious to the real world out there as we know.

Those who are jumping in to buy today better be ready for a sizeable cash issue, that’s what the strategic review is about.

[winner69]

You can’t blame Scott for stupid, irrational, hyped up punters pushing the share price up close to 13 bucks

Those were exciting days eh .....and some on this thread thought Scott was the bees knees.

It wasn’t Scott who came up with the $400m sales target by 2020 ......and he’s had rotten luck with the weather eh

[winner69]

Strategic review might be finished in October ...and it’s already been going for 12 months...urgency not a word they use

Bloody heck

Jeez, put Beagle, Balance and kiwidollarbill in a room for a week and it would be all done and dusted

[winner69]

Amazes me that the Chairman is still there.

[winner69]

Jeez, I didn’t realise that Luke Bunt was still a director

He leaves a few things out of his bio ......not really a ‘lucky’ Director .....but then again he does seem to have a silver spoon to feed out of troughs

Enough said.

[Beagle]

All tongue in cheek with this bunch of clowns running the company like a run down circus.

These guys live in a parallel universe where they are totally oblivious to the real world out there as we know.

Those who are jumping in to buy today better be ready for a sizeable cash issue, that’s what the strategic review is about.

Well said mate. Its nice to see you back

[Apathy]

I have some sympathy for the CEO - he isn't the cause of today's share price jump. Balance hit it on the head capital raise coming - they will need to keep bank happy after they write-down the inventory ----- and rest assured that will be coming next.

[Beagle]

I honestly don't know how anyone can have confidence in the board or the CEO now. Surely its beyond any reasonable doubt now that fundamentally their business model is broken and massive change is needed at the top and a completely new strategy needs to be invoked.

I would imagine the bank are getting extremely nervous regarding their exposure. This company is uninvest-able in my opinion.

lol, what a sh*t show.

I personally cannot see away out for CVT what with all of their problems, debt, competition, weather, huge stock, virtual no local market, under cuttion, too many to list, this share could easily be $1-00 -----$1-50 share, I hope not. sad sad sad !

Well really is anyone surprised.?
All I can say is "no surprises here."

Have a look at note 13 to the interim accounts and review how systematically they've drawn down long term bank debt in recent times. https://www.comvita.co.nz/_assets/In...Statements.pdf This is damming stuff for a company with financial performance that's best described as an ongoing fiasco.
I would think this latest revelation today is likely to see them in breech of their banking covenants and the bank saying "no more".
Time's up for the current CEO and Chairman...massive change is needed and a whole new perspective or there's a real risk the bank will give them some new perspective whether they like it or not !

I won't try and put a price on the fair value of the shares any more as I think the business is fundamentally "broken" and probably has little if any value other than in a takeover situation with a complete clean sweep of management and the board and their conceptually flawed current processes.

I think shareholders are on a hiding to nothing and this is just a slow motion train wreck heading for derailment.

All posted exactly one month ago to the very day. Coincidence ?...you be the judge.

[winner69]

All posted exactly one month ago to the very day. Coincidence ?...you be the judge.

Chairman Craig still there ...since 2005 he’s been Chairman

With a name like Craig and his connections probably still be there in 2029

[Beagle]

Lack of board change among many other reasons is why I wouldn't be interested at any price. Shareholders have obviously fallen victim to the "Peter Principle" with Coulter.
https://en.wikipedia.org/wiki/Peter_principle