ALF - Allied Farmers Limited

[minimoke]

Mini, you ramper... you posted that and someone took out 1m at 0.4cps... hope your tip was "Class Advice"!

(I suspect it was Winner trying to make a make a comeback in the competition this month.)

More devotees following the advice - another solid punt at $0.004 today.

(Winner knows how much can be made from following Uber Guru Dougs advice. If Winner isn't following this tip he risks not sharing the spoils eagerly anticipated by ALF holders.)

[minimoke]

Crunch day... how many shares are they going to issue?

Well not sure how this works. In an update today they say " The audited 30 June 2011 financial statements included in the Annual Report are required to take into account a number of matters that have occurred since the release of the preliminary unaudited financial results on 29 August 2011. One of those matters, which is expected to have a positive impact on the group, was intended to be completed prior to finalisation of the financial statements.

The Board believes there is a good prospect of that matter being completed in the next few days. Because that event, if concluded, is expected to have a significant impact on the financial statements and the calculation of the rights attached to the Bonus Securities and the Price Adjustment Rights under the placement completed in August 2010 which are dependent on the audited results, the Board considers it prudent to delay completion and disclosure of the Annual Report for a short period."

So if an event occurs after year end, how can it be applied retrospectively. Are ALF like National - they think that if something doesn't go their way they'll just backdate things.

[Lizard]

I would have guessed first-off that it might involve returning ANF to trading somehow and therefore putting it back in the accounts as a continuing operation. However, that wouldn't affect the rights attached to the bonus securities - that would require a positive move in the value of the Hanover assets. Difficult to see how that could be applied retrospectively though.

[minimoke]

I would have guessed first-off that it might involve returning ANF to trading somehow and therefore putting it back in the accounts as a continuing operation. However, that wouldn't affect the rights attached to the bonus securities - that would require a positive move in the value of the Hanover assets. Difficult to see how that could be applied retrospectively though.

Given NTA, currently stnads around -$7.3m do we assume they have found at least this amount from somewhere. That then leads to a positive NTA and they can then do their share calcs based on that figure.

I can't figure the retrospective bit: either the event happened in that financial year or it didn't. I'm not sure how they could potentially miss a material transaction at the unaudited accounts stage.

[Lizard]

Rob Alloway buying up shares at $1 "each" - that is $1 per parcel of around 172,500 and 162,500 shares - i.e. total acquisition price of $2 or about 0.00058cps (and that really is in cents per share, not dollars!). At least that is how I read it. Odd things afoot.

[winner69]

He has bought (or relieved the sellers of) Allied Capital shares for the $2 .... Allied Capital have some Allied Farmers shares - those not worth much methinks

You always get suspicious when these silly games start happening eh

I have hope - as does Alloway - that ALF will be 10 cents by Xmas ... just in time to win the stock picking compo ... don't think belg has ALF in his picks ... my point of difference to him

[Lizard]

He has bought (or relieved the sellers of) Allied Capital shares for the $2 .... Allied Capital have some Allied Farmers shares - those not worth much methinks

You always get suspicious when these silly games start happening eh

I have hope - as does Alloway - that ALF will be 10 cents by Xmas ... just in time to win the stock picking compo ... don't think belg has ALF in his picks ... my point of difference to him

Aah, thanks - that makes more sense.

[minimoke]

... don't think belg has ALF in his picks ... my point of difference to him

You're not buying in the down trend then?

[minimoke]

Mini, you ramper... you posted that and someone took out 1m at 0.4cps... hope your tip was "Class Advice"!

(I suspect it was Winner trying to make a make a comeback in the competition this month.)

You'll note some are swimming in the glory of my advice - up at $0..6 today thats doubling your money in just a few days!

[Lizard]

Well I've no idea how they calculated it, but they've managed to come up with a number of shares to issue for the placement holders - looks like they based it on about $0.0021 per share. So another 977m to the placement holders and 118m to the bonus issue holders... but then it probably doesn't matter anyway, as the ALF010's are going to convert to equity... all $12.6m of them. At 95% of the average of 20 business day VWAP's prior to 15 November...

You'd better start ramping that price, Mini. If you can keep that VWAP at .004m they should be able to get away with just handing half the company to the noteholders...