Market cap of $18.4 million. 82.3c per share of NTA and about ~40c a share at the moment. $55 million in property and plant. $22 Million in debt. $4.3 million in cash and receivables.

2% dividend yield last year.

Super cozy relationship with Villa Maria but that is not a bad thing. Alignment of interests.

Just love the low directors fees, total pool of $90k. Could show a few other micro-cap stocks on NZX what is reasonable. Also really enjoyable annual reports, nice to see reporting metrics that don't change every year so I can track long term performance.

Pros:
Reliable (low) dividend, conservative cash, sensible management, steady addition of vineyards

Cons:
Cyclical business, super competitive sector, reliance on Villa Maria which is privately held and a bit opaque, unlisted has limited liquidity and big swings in prices

Never bought an unlisted stock but definitely tempted at around 35c. Not held but on my watch list at these prices.

Probably scratching around for deep value by myself judging by the thread. Anyone holding?