ALF - Allied Farmers Limited

**Silverlight** · 17-08-2010, 04:38 PM

Well full year financials are out in the next two weeks, so will wait and see how much they have changed from the half year.

For interest, half year financials attached.

**Lizard** · 17-08-2010, 04:56 PM

Well we already know how much equity they have lost due to impairments/provisions on Hanover assets ($81.2m) and ANF ($10.7m) - so maybe $80m equity left? Hard to ascertain the extent of any other gains/losses.

Cashflow likely to be tight. I'm going to guess $10-$15m cash remaining at end of June and probably falling fast since. Though I'm not sure how large the impact of 5-mile sale was. Also not sure about how much cash they can get through securitisation via Speirs group.

**COLIN** · 17-08-2010, 05:27 PM

Alan (& any others tempted): I wouldn't go anywhere near this one, myself.
If you are desperate for a high-stakes gamble, with much better odds, what about STL030, now that they have this Bluestone Group behind them?

**Alan3285** · 17-08-2010, 08:13 PM

Originally Posted by COLIN

Alan (& any others tempted): I wouldn't go anywhere near this one, myself.
If you are desperate for a high-stakes gamble, with much better odds, what about STL030, now that they have this Bluestone Group behind them?

Maybe - I don't know anything about STL030 so I couldn't say.

As I said above, I think ALF010 is a better bet than ALF, but that BLU020 is better still.

Alan.

**bung5** · 17-08-2010, 09:33 PM

Internal investor will save allied finance. but ALF won't be so lucky

**Lizard** · 20-08-2010, 10:43 AM

Originally Posted by Lizard

... and can ALF remain out of receivership if ANF were to go? And how can ANF stay out if they hit a cash glitch given that it seems they won't be getting many reinvestments at the moment?

So now confirmed that ANF have pretty much run out of cash - at least for yesterdays debenture repayments. So I guess will get my questions answered later today?

**minimoke** · 20-08-2010, 10:44 AM

Originally Posted by bung5

Internal investor will save allied finance. but ALF won't be so lucky

Looks like we'll find out today. ALF say an announcement from ANF will come out later in the day.

**Alan3285** · 20-08-2010, 10:44 AM

Further announcement by ANF (not ALF - the subsidairy):

http://www.sharetrader.co.nz/showthr...l=1#post316136

Not sure if they ran out of cash from what they said. Looks to me like they are putting the acid on the trustee to make a call. Seems to imply they *could* have paid, but the trustee wouldn't let them, or have I read that wrong?

Alan.