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  1. #1221
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    By saying that share price not moving up as the first half profit announcement. So as expected people priced in second half won’t be too exciting.

  2. #1222
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    So it looks like it is a clever spp. Now just hopefully they can get some sort of growth from the spp money

  3. #1223
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    Am I reading this correctly that they in effect did a share buy back at 7.6 cents?

    Ie could not sell on market so bought the shares themselves?

    Not complaining, always good to clean up the register and 7.6 cents seems like a fair price to me.

    https://www.nzx.com/announcements/336310

  4. #1224
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    Quote Originally Posted by blackcap View Post
    Am I reading this correctly that they in effect did a share buy back at 7.6 cents?

    Ie could not sell on market so bought the shares themselves?

    Not complaining, always good to clean up the register and 7.6 cents seems like a fair price to me.

    https://www.nzx.com/announcements/336310
    Well that's the way I read it too.
    Positive.

  5. #1225
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    https://www.pigprogress.net/Health/A...China-439124E/

    Rabobank predicts meat shortages due to ASF in China
    Not sure whether ALF is going to benefit. Will the international prices for calf products starting to improve?

  6. #1226
    Divorced from logic Hectorplains's Avatar
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    Quote Originally Posted by percy View Post
    Well that's the way I read it too.
    Positive.
    The market couldn't find a buyer(s) for $266k in 2 weeks. Not much of a confidence vote that.

  7. #1227
    percy
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    Quote Originally Posted by Hectorplains View Post
    The market couldn't find a buyer(s) for $266k in 2 weeks. Not much of a confidence vote that.
    I thought it was positive the shares had been brought back and cancelled, saving the costs of servicing tinny shareholders.
    Good house keeping,which was the objective of the exercise..
    Last edited by percy; 23-06-2019 at 06:48 PM.

  8. #1228
    The past is practise. Vaygor1's Avatar
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    Quote Originally Posted by percy View Post
    I thought it was positive the shares had been brought back and cancelled, saving the costs of servicing tinny shareholders.
    Good house keeping,which was the objective of the exercise..
    I am glad ALF ended up buying them all back.

    Back in late 2015, ALF did the same thing. Refer this announcement:
    https://www.nzx.com/announcements/275464

    Note the announcement back then states ALF can compulsory acquire the holdings belonging to those owning less than 2000 shares but chose to apply it to only those holding less than 1000 shares.

    I now believe that the 1000 share threshold was chosen back then because, in the event the acquired shares didn't sell on-market, ALF couldn't afford the outlay needed to buy them all back.

    In speaking to Garry Bluett some time after the under-1000-threshold compulsory acquisition took place, I recall Garry telling me that the payback of the initiative (due to the reduction in the cost to ALF of Link Market Services maintaining such a large share register relative to ALF's size) was less than 1 year.

    This time around, with circa 3.5 million shares for sale in only 10 days, I was only expecting 100k or 200k shares (at most) to sell anyway, given current market ill-liquidity (in nearly all my holdings, including ALF).

    The buyback means my ALF holding is worth 2% more now, and the cost of performing the initiative will fully pay for itself in the forthcoming financial year commencing in 7 days from now.

    Looking at the spread of those holding ALF on 6-Aug-last year....

    Attachment 10639

    .... I estimate the number of shareholders in ALF will have dropped from about 5400 to (probably) just under 2000.
    Last edited by Vaygor1; 26-06-2019 at 09:25 AM. Reason: typo

  9. #1229
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    Let’s hope we can receive a fatter dividends this year

  10. #1230
    The past is practise. Vaygor1's Avatar
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    Quote Originally Posted by golden city View Post
    Let’s hope we can receive a fatter dividends this year
    Going by ALF's latest guidance, I estimate the following based on a few assumptions:

    (000)

    NPBT $2,200

    NPAT $2,000

    Attrib $1,380

    Shares 178,547

    Eps $0.0077

    Current Price $0.070

    PE 9

    Assuming the above is reasonably close to the mark, the maximum dividend payout according to the board's agreement with the existing bondholders is 1/2 the annual EPS = 0.385 cents/share.

    The two dividends ALF have paid to-date were both 0.2 cents/share

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