Rinse and repeat as usual. Same old, same old for the last near on 3 years.
Market Update.
1. Yes one farm was sold over 12 months ago, another under EOI. FGMP showing signs of recovery, come on not all dairy farms have been affected by the MG and Fonterra price drop.
2. Fiji dairy, DD not very thorough. Asia Pacific Logistics P/L, on 26/6/2017 an application for voluntary deregistration was lodged. Now marked on ASIC as deregistered. Fiji of no benefit to the shareholders of PDF.
3. $150million debt facility via bonds totally unsustainable then add to the mix that a guarantor of the facility is a $2 company with the sole director having two court judgements against them.
4. Why would anyone that had a plan for the rising of the company share it with the current BOD who would not even be able to run a chook raffle.
5. Oh we forgot in our notice of meeting to proof read it, there are typos and breaches of the corporations act. Really.
Wonder what will be found going back through share issues from 2014 onwards, could there be more shares issued outside of the act?
IMO DYOR
PDF Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held