Ann: Notice of Annual General Meeting/Proxy Form-AYB.AX, page-2

Company reset about to happen!

Change the name and suddenly
it's a new company! Same ABN same players, the old saying "The more things change, the more they stay the same"

Pacific Dairies Limited sounds like it is aimed at the Pacific region. (Fiji and Aus?)

Up to 600,000,000 shares to raise up to $15,000,000.00

Quote "It is intended that funds raised under the Public Offer will be used to fund costs and expenses association with the acquisitions and expansion/upgrading of dairy farms acquired, the costs and expenses of the......."

The above does not distinguish between existing and future costs so CR funds could be used to fund pre existing costs and expenses.

Using the words "........ and expansion/upgrading of dairy farms acquired" is a worry, as to me it implies they have purchased the farms? There seems to be a few words missing from the above quote and I do not think that I have read it out of context?

To paraphrase the rest.... And if the farms are not purchased "we" can use the balance of whatever we get to pay "ourselves" and keep the lights on!

Big on words small on detail.
The prospectus will be an interesting read.

Opinions?