The AHF SP has jumped, quite possibly, in lockstep with your de-merger cume acquisition announcement for TAU, with Cash Werkz being acquired and Jimmy Crow being demerged.
Of interest to AHF however is the fact that post 31/7, it will be Jimmy Crow (assuming success of your long since delayed XGM) which will then hold the AHF shares (not TAU).
Financial services or not, you seem to be now ridding TAU of anything that could impinge upon your style (climate, weather and seasonality, affecting the tourists with Jimmy Crow; climate, weather and seasonality, affecting the cows on pasture with AHF).
More the point, it seems very likely that you will either be quickly pulling more cash out of AHF, or are about to do so, on account of ADMIN costs 9if only, in this instance, to boost either TAU, or Jimmy Crow, depending upon the actually timing to payment, if indeed it has not already occurred). That cash concerns the following:
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"Final Demerger allocations of the following Consolidated Group assets and liabilities originally allocated to Trustees Australia Financial Services Group: (A) other receivable for recovery of 2016 administration costs of $169,750;" (25 XPM).
So, we already know that during DecQ16, you pulled out $169,750 ostensibly on account of the 2016 Admin fees - remind me again what services you actually provide for this?
But what of JunQ17? - Did you pull them out again, or are you now forced to wait until after end July (and the TAU XM) in order to do so? Time will very soon tell. Mind you, for the quality of the Admin and Corporate services being provided, someone's ripping you off. The quality is not there. The substance is not there, but the glaring errors (both ongoing and omissive) are manifest. It's a crime, you know, to seeing such rip-off services being provided. Perhaps, therefore, before the XM convenes, you should chase up your source providers of these services and demand from them a refund. After all, it's not fair for the blame to be poked at TAU when it's really the fault of these out sourced, source providers.
That said, having a AHF SP rated at 10.5c in the XPM, but now hovering at around 16c leading into the XM all happening is arguably just the type of welcomed publicity that someone would hope for in order to get a much tortured acquisition cume disposal under way.
Mind you, it would seem that the BOD of Jimmy Crow will be all encompassing. This, for instance, from p27, XPM:
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"The Jimmy Crow Board comprises Elizabeth Hackett, Michael Hackett, Kerry Daly and Nathan Leman. Elizabeth Hackett is appointed as Chair and Managing Director. This board will remain in place after the Jimmy Crow Demerger."
So, given the lack of perceptive management, control or effectiveness, post de-merger, are we to expect a number of resignations from some of the AHF managed or responsible entities? Or, is this another way to try and engineer an even greater leakage of funds from AHF going froward?
More the point, who will be providing the exorbitant ADMIN + CORPORATE costs /benefits post 31/7 given that Jimmy Crow is singularly lacking in this regard. Surely, you're not going to have a pass through from AHF to JMC and then onto TAU? Or, are you?
There's much that's been said and done about AHF in the past, but with next to none of it done by you, or your team at TAU.
Now, we can see that further funds are about to be stripped from AHF (if indeed, this has not already been done so) all because Jimmy Crow will itself be on the teat right from the outset (to where, for example, is a minimum subscription of $200,000 going to get you?). Much therefore has been said and done, but very much more than this, still needs to be said about AHF. Unfortunately, your problems with TAU have now very much become AHF's problems concerning you and TAU. Perhaps, the XGM will address all this, but far more likely than this, you've been MIA for simply far to long, and this has cost AHF dearly in terms of potential, and in terms of hard, real, currency (not Russian Roubles). Pity then if your XGM falls over, for any reason, or attracts further attention or scrutiny from others. As for AHF, it is already a casualty. When for example, is an announcement not an announcement? Answer: When it's made by AHF's BOD. Get it??? Board of Directors!!!!
As for the strategy announcement, just released, more on that later, but for now:
* Web In Air
* Groovy, wavy lines with some drawn in pictures.
AHF Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
