Until BFC moved to 100% of Scorpio I felt those deals were pie...

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SonicBlast

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13/03/18

10:38

Post #: 31707853
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Originally posted by BB77 ↑

Interesting that shareholders of DDT have called for and been given a General Meeting that would remove the current directors and move away from the merger with BT -https://www.asx.com.au/asxpdf/20180309/pdf/43s9xvk7lymjmw.pdf

The BT and DDT merger makes no sense apart from lining the pockets of Sexton. I think you'll see more of this as the company fails to deliver on its financials. They have completely stuffed up their overseas businesses - what happened to the deal with TMT Trading Company Limited, Vietnam Beef Business Company Limited (stated that it targets a minimum of $10m sales in the first year), MM Mega Market, Hondo ($22m growing to $90m), the proposal from the Korean company etc. Who is held to account for these deals being announced but never eventuating. Surely it's misleading.

I can understand why shareholders of DDT would be wary of BT as well as far from happy with their own directors.

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Until BFC moved to 100% of Scorpio I felt those deals were pie in the sky too. I am open to letting things emerge there. They are not cattle barons. But they now do have a very capable meat processing unit that should create a niche with good margins with 100% ownership in a refurbished factory.

It is a case of wait and see for me for both the DDT deal and the Meat division.

cheers

BFC Price at posting: 21.5¢ Sentiment: Hold Disclosure: Held
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