pgh chart, page-20

Hello williamteddy....Costa is not performing enthusiastically either.
Peter Margin was appointed as independent non executive director at Costa in June 2015 .
http://costagroup.com.au/meet-our-Board
It was 39% down on January 11:

“Shareholders peel $900m off Frank's fruit business”
Rebecca McDonald / 11 January 2019
........https://www.bay939.com.au/news/local-news/101240-shareholders-peel-900m-off-frank-s-fruit-business


At NuFarm he is a non executive director as well although he is also an active member of two committees there. https://www.asx.com.au/asxpdf/20170518/pdf/43jbvg8nvby8p9.pdf
I do not know if he will play a more active role in future with with Pact or not .



Beyond that, theorising from ignorance, I presume the Kin financial issues/debts may be contained within the family ... this would give a plausible reason as to why the extension was given.
I do not know how this would affect Pact overall except as a reminder there is possibly a powerful safety net behind the scenes.
At these prices - if there was any worth to it - might Visy buy the company out?

The fact that in December 2013 Ruffy launched Pact onto the stock market with the claim it would be worth five billion dollars in five years ( a clam that was maintained through media reports about acquisitions in 2015 ) only to have arrived at a place where the company is valued at $1.234billion five years later (according to Hot Copper) must be somewhat humiliating.



Some more back story is the pressure from substantial holder Anton Taglioferro, of Mutual investments seems warranted given that fund said Pact was the largest investment in its portfolio in early 2018 and increased that position at over $5 a share in June 2018.

https://www.iml.com.au/news-and-views/articles/outlook-2018-whats-store-small-caps
“One company that ticks all our boxes” (January 2018)
“We like companies with recurring earnings and sustainable competitive advantage, run by good management, that can grow, trading at a reasonable price. Over time, such companies should perform well. On these measures, Pact Group (PGH) is currently the largest weight in our portfolio and that we believe can do very well in the next 3 to 5 years. Pact is the leading manufacturer of rigid plastics in Australia, with long-term blue chip customers and recurring and defensive orientated revenues. The company is growing and has expanded into contract manufacturing and pallet pooling. The company also operates in Asia which represents an additional growth avenue. Trading on a below market multiple of 16.6x and a solid 4.2% yield, strong franchises such as Pact with valuation support should perform well over the coming years”.....


From the image below it seems Mutul Investments and fellow substantial holder Ubique also increased their position at around current prices in October and November .
It looks (on first glance) as if the Mondrian , the other represented here is a hedge fund (if so a good thing it is now off the list?) https://forest500.org/rankings/financial-institutions/mondrian-investment-partners-ltd






I don’t subscribe to AFR but here is another link re Mutual that may be of interest.
https://www.copyright link/brand/re...lls-pain-for-investors-mutual-20180815-h140jk


Overall Ruffy seems to have his fingers in many pies with Reject Shop ‘drama’ continuing and Pro-PAC packaging (PPG) also in financial pain https://www.theaustralian.com.au/bu...k/news-story/433516dfccb7c9c80c217536698ad830
At PPG, as with Pact the CEO has departed (in November the company lost two top executives )
http://www.packagingnews.com.au/latest/two-top-execs-quit-at-pro-pac

The sooner an excellent replacement is found to supervise Pact the better ?

More hope for an improving price is that, along with much other news coming out of the company in November, Perry Williams and Damon Kitney, of The Australian, reported:


“Asia beckons as costs send Pact packing”
November 19
“The nation’s largest manufacturer of rigid plastic packaging, billionaire Raphael Geminder’s Pact Group, says it will move more of its operations offshore to Asia because of the soaring cost of doing business in Australia.

Pact has closed three local manufacturing sites over the past 12 months among more than 60 it runs in Australia, New Zealand, Asia and the US after undertaking extensive work on establishing a reliable and cost-effective import supply chain for select product categories.

Pact, which has more than 4000 staff, supplies a wide range of plastic and steel packaging to the food, household cleaning, pharmaceutical, personal care, agricultural, chemical and industrial markets”.......
.....etc
https://www.theaustralian.com.au/bu...g/news-story/f9534b6a671cdd0b49cb4f9358dc3d4d