SML - Synlait Milk Ltd

[Beagle]

A question that has puzzled me for a long time. Why are agricultural processing companies in New Zealand so poorly governed?

Recent examples are Fonterra Westland Dairy SYN and Siiver Fern Farms(then PPCS). There are also historical failures which fit this profile.

A vital part of what the participants call the back-bone of the country seem unable to get it right . I would be interested in others views on this.

Boop boop de do
Marilyn

Very good point about the very poor standard of governance right across this sector. For example its not called Fonterror by some people without good reasons !!
If all people understand is milking udders in the cowshed, that's where they should be, not the boardroom !

[Filthy]

https://www.nzx.com/announcements/362735

good update... (i think?) - hard to tell really; it'll cost $70M in CAPEX, but zero indication if it will improve guidance at all.... we all just have to guess...

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...735/334449.pdf

Very small pink headline...much more subdued than their usual pink colored headlines in capitals and HUGE PINK FONT

Are we to interpret this that the net effect on eps will be minimal ?
How do they meet the terms of this agreement if Pokeno is rendered inoperable by the Supreme Court ?

[Nigel]

Positive impact on earnings from FY23. Meanwhile $70m needs to be spent on customisation over two years. Let's hope the customer is locked in for some time! Good long term move, but that's a significant investment to get them on board, which wont help the financials for the next few reporting periods.
Interesting too that the shareprice was up this morning about 5% (leaky ship?) but is easing now that the details are out.

[Sideshow Bob]

Total liabilities of $885m, what's another $70m of spending going to matter....

[sb9]

At last, they can move on with their plans now...

https://www.nzx.com/announcements/362766

Synlait settles Pokeno land covenant legal dispute

Disc: Not a holder anymore..

[winner69]

Pokeno settled - not material

I guess two and sixpence

http://nzx-prod-s7fsd7f98s.s3-websit...766/334488.pdf

[winner69]

Interesting too that the shareprice was up this morning about 5% (leaky ship?) but is easing now that the details are out.

Maybe Pokeno news became 'public'

[Leftfield]

How do they meet the terms of this agreement if Pokeno is rendered inoperable by the Supreme Court ?

Pokeno settled - not material

I guess two and sixpence

http://nzx-prod-s7fsd7f98s.s3-websit...766/334488.pdf

Well, well, Beagle will be disappointed. Fancy that.

(Disc - don't hold)

[BigBob]

How do they meet the terms of this agreement if Pokeno is rendered inoperable by the Supreme Court ?

Maybe they knew something that you didn't....??