ALF - Allied Farmers Limited

[winner69]

So hardly anybody left to do the hard work .... calling in contractors to help .... maybe the corporate undertakers would be a better bet

Betcha the tea lady has gone .... oops I forgot they couldn't afford one

What an utter disaster this whole fiasco has been

[Lizard]

Any chance they'd get RECL in to manage the AFI assets?

[percy]

Any chance they'd get RECL in to manage the AFI assets?

Yeah right !!! assets?? !

[winner69]

Yeah right !!! assets?? !

Could make life easier .... some of the assets in RECL are also encumbered to Allied Finance .... those who wanted cash went to anyone ... and they all fell over themselves to lend the money

[minimoke]

So hardly anybody left to do the hard work .... calling in contractors to help ....

Steve Morrison heard your call - he's just taken up the job as head of Allied Farmers Rural. Before you can blink, a big chunk of that job gone now the merchandising division is to be closed down.

[Lizard]

I see the rural stores are gone. Is this the whole of the Rural Services segment of ALF? Would that mean the remaining business is now pretty much just the Asset Management business, or sell down of ex-Hanover assets?

If I was a shareholder, I would find today's announcement a little info-lite. Are they in quiet liquidation mode, and, if so, wouldn't this sale require shareholder approval under rule 9.1.1 (a)? I guess they can get away with not needing a vote under 9.1.1 (b) if the assets were sold for less than $10m?

Hard to see why anyone is paying more than NTA for shares (around 0.6cps) - I would have thought a discount would apply and a price of 0.4cps or below would be more fitting.

[Kees]

Hard to see why anyone is paying more than NTA for shares (around 0.6cps)


not hard at all up to 1 on the news

[Lizard]

Hard to see why anyone is paying more than NTA for shares (around 0.6cps)

not hard at all up to 1 on the news

Kees, I am genuinely interested in how you would justify 1cps?

[minimoke]

Kees, I am genuinely interested in how you would justify 1cps?

With respect to Kees, doesn't matter what he thinks. The market has come in with a trade at 1 cent. Thats the current valuation of this stock.

[bung5]

Even taking the NTA at 0.6c a share seems a bit risky. NTA was 7c a year ago.... just keeps falling with the write downs on the hanover loans