ALF - Allied Farmers Limited

[Lola]

Going to fly soon. Someone is accumulating

Dear Golden, You seem to have a good handle on this company and its strategy. Certainly better grasp than nztx who is stuck in the past with all his obvious grudges.

[nztx]

Nice to see a few with a hardened appetite for the Muddy Boots empire
and a few flash in the pans dividend aspects .. last few H2 & FY reports carry
enough warnings on what lurks within, in places ..

What sort of grip on anything they have could be curiously interesting ..

IMO far better fish to fry elsewhere with better flying qualities, without getting stuck in the muck ..

[nztx]

Eric The Great (Or Wat-Now) sends his thanks all of the very few ALF supporters who bothered sending their best wishes
on news of the S.E.C announcing that it was chasing his butt in connection with alleged naughty trading in US Markets .

Unfortunately Eric will be unavailable for a further while to help in ALF's up-marketing program, due to some incoming
LIQUIDATOR LOVE on the horizon from the Liquidation clean up team at Cullen Investments


https://www.nzherald.co.nz/business/...ng-allegations

Incoming $57m lawsuit: More legal action for Eric Watson after SEC's insider trading allegations

[Under NZH's Premium Edition Curtain]



Eric WAT-NOW sends his best wishes to all his loyal ALF Fans - more Donations to help fend off the Liquidator's delving mits
would be gratefully appreciated


It must be gratifying to know that you've so popular that authorities & agencies globally are now swarming to try to take pot shots
at your butt, even after admissions of being destitute and only surviving on meagre pocket money from an elderly family member ..

Do they not understand ?

[golden city]

Soon we will find out what is the profit like this year

[nztx]

https://www.nzx.com/announcements/376562

New Zealand Rural Land Management Partnership Earnings Contribution Update

Allied Farmers Limited (“Allied Farmers” NZX: ALF) is pleased to note the announcement today from New Zealand Rural Land Company Limited (NZL.NZX) that, subject to audit completion, a performance fee of $1.183 million has been calculated as payable to its manager, New Zealand Rural Land Management Limited Partnership (NZRLM) for the period ending 30 June 2021.


In accordance with the management agreement the performance fee is to be satisfied in NZL shares at the 30 June 2021 - Net Asset Value (NAV) of $1.3351 per share.

Allied Farmers confirms that, that the attributable earnings (including the performance fee) from NZRLM for FY21 will be approximately $1.1 million.

The above figures are all subject to any final audit adjustments.

Okay so a bit of fancy footwork & reward for a bit of 'you pay me a fee to buy some farm blocks for you' and we'll call it fees
revenue around the camp .. (please watch where you're walking to try to miss all the cowpats in the paddock) ..

Hope the REA's got their large commissions on the sales & buys - did ALF provide that service as well .. or not ?


No Ca$h out of this one for ALF - Boys & Girls - as it's all been reinvested back into the Muddy Boots Management Co ..
for an increased exposure to managing large dairy plots ..


Should make ALF's FY 2021 look a bit prettier, (on paper at least) even though there still wont be cash out of it for this then either ..


Guess everyone can go back to sleep again as ALF only spit out a Cash Dividend once a year in January ..

[Lola]

https://www.nzx.com/announcements/376562



Okay so a bit of fancy footwork & reward for a bit of 'you pay me a fee to buy some farm blocks for you' and we'll call it fees
revenue around the camp .. (please watch where you're walking to try to miss all the cowpats in the paddock) ..

Hope the REA's got their large commissions on the sales & buys - did ALF provide that service as well .. or not ?


No Ca$h out of this one for ALF - Boys & Girls - as it's all been reinvested back into the Muddy Boots Management Co ..
for an increased exposure to managing large dairy plots ..


Should make ALF's FY 2021 look a bit prettier, (on paper at least) even though there still wont be cash out of it for this then either ..


Guess everyone can go back to sleep again as ALF only spit out a Cash Dividend once a year in January ..

I was wondering when you would pop out from under your paddy. ALF can always bolster their cash and pay a nicer div by selling a few of the sister company shares. Not a bad change in direction so far ....and all done by a banker from Parnell. Who would have thought?

[nztx]

I was wondering when you would pop out from under your paddy. ALF can always bolster their cash and pay a nicer div by selling a few of the sister company shares. Not a bad change in direction so far ....and all done by a banker from Parnell. Who would have thought?

Paddy has raised a few relevant questions with your posting and understanding of things:

Sell shares in the Management Company ?

Who paid what for their interest in this again ?

NZL isn't a sister company to ALF , as most would imagine (maybe a only small ALF holding)
but more a captive listed entity subject to the Muddy Boots Management Co fees regime ..

Selling a few shares in anything may not mean dividend or entitlement to one ..

What is ALF's overall exposure to NZL Management now & total ingoing investment into the NZL overall Camp ?

What is the likely return on this 'major ALF investment' after eliminating one-off flash in the pan items ?

[golden city]

Alf is progressing well happy with the acqusition so far. With both dividends from nzl and nzlm. What else acqusition you can make almost 50% investment returns, 3 years 2.5m back in full I think

[nztx]

Alf is progressing well happy with the acqusition so far. With both dividends from nzl and nzlm. What else acqusition you can make almost 50% investment returns, 3 years 2.5m back in full I think

I'm lost - where's the 50% coming from ?

Since when did ALF manage to get 50% of the NZL shares on issue ?

The job looks like it was intended to run more than 3 years

A few acquisition performance fees (abeit non cash book entries) and the stated Management fee to
ALF half owned Muddy Boot Management Company certainly don't look like 50% even over 5 years ..

You could try adding NZL revaluation gains but that wont go far on ALF's few shares held in NZL, but
the buck probably stops at ALF because they won't be distributed & any revaluation gain will be spread
in NTA increase across an inflated ALF issued capital base which has probably at least doubled or more
in past 12 months .. unless really lucky, the 2021 cash dividend may be subject to be chopped in
half for all the extra shares on issue ..

Some may have already thought through the ins & outs around the enlarged camp with the Muddy Boots
Estate as a 1/2 the fee contributing satellite to reach a guestimate of what is likely outcome ahead ..

Can you share the secret of what is smoked or the miraculous medication that produces images
of untold Investment Return flowing forth from ALF and mere half interest of NZLM farm management outfit ?

Don't worry the secret wont spread far .. thoughts of Eric the Great has probably scared off all earlier ALF holders
long before now .. so not many read the thread ..

[mfd]

I can't shed any light on the 50%, but the benefits to ALF are obvious. This is a small company, now valued at about 15 million. They now have a repeatable, growing annual stream of a million or so, on top of their other ongoing operations which have tended to produce about a million in annual profit. They continue to try to grow these steams and expand into other areas.

We're unlikely to be looking at a ten bagger, but the company is likely to make very tidy profits over the next few years and the NZRLC management fees are a very useful contribution to that. Perhaps shares will be a dollar in a year or two all being well.

Not sure what else you are trying to insinuate, you will have to be more explicit about your concerns.