Incorrect on a most fronts but not an attack Ratty quit for...

Incorrect on a most fronts but not an attack
Ratty quit for several reasons.
I've talked to ratty and WP a few times in the past few weeks.
Firstly as a NED, ratty was doing 3 to 4 full days work on AHZ. To be a CEO on another company you need to 7 days a week. Not enough hours in the day to do both and an opportunity for ratty to take the next step in his career which I respect.

Note most NEDs do about 4 to 12 days a year.

Secondly, from our conversations this week, ratty is still buying his allotment and I encourage this to be supported as I want him to invest in AHZ.

Thirdly, his fund is managed by another who has been prevented from doing tax loss selling for several years. At first I was curious to see ratty selling down so contacted him (and wp) to confirm. In all fairness his fund has made some profits elsewhere and the opportunity to sell a part of his holding to offset gains prior to tax time makes sense. He stated he is still super excited with AHZ and will be buying / selling in the future based on his fund manager. There is no bad blood and WP and ratty still talk several times a week. He also stated WP is by far the best person to lead AHZ with which I agree 100%.. he has also stated this is by far the most exciting stock he owns out of the 100 or so he owns.

Lastly, ratty isn't selling out, his fund is taking advantage of Australia tax laws as per most serious and professional investors. If that gives you angst or makes you anxious perhaps best to follow his lead as a successful investor.

Is there any reason we are at these lows fundamentally - I would say no but I've researched it to death. But I have read lots of comments here on hc whereby I think people making claims and statements don't sound as though they have even watched the agm presentation.

A few months ago we were getting positive announcement after positive announcement which showed the fundamentals as real and improving.

Then a CR was announced with the goal of expediting the shaped tissue portfolio which is a must do if you want the company to be successful. Some see a negative. I see the opportunity I've been waiting for which is to expand our portfolio faster and wider and harder.


Then to compound some fear, one of our longest term suppliers whose products are being challenged and perhaps no longer competitive technically or commercially (gomedical) cancel a small relationship where our margins are being squeezed anyway. Hence the opportunity now is there to perhaps develop our own high margin consumable or get a better priced and technically better product, which, from discussions is probably going to have no effect on our bottom line and actually presents a better long term opportunity. After hearing the sequence of events from the horses mouth, I would say the long term loss will be gomedical's.

Again you can look one layer deep and see the wrong thing or you can research and see the opportunity and upside...

Also if just like to clarify that on those negative events i did question my investment but my course of action is not to make baseless claims or emotive statements - I contact the source to get the real info and data. WP and ratty are excellent and honest and real. WP has given up excessive dollars from other opportunities to be at AHZ- I asked and he told me what he walked away from and what he and the other management team has been offered since. I won't share the number but all offers significantly dwarf the $500k plus bonuses for positions that don't involve the longer hours and harder grind etc

So ask yourself - why is wp still at AHZ. It's probably because he sees and smells something a lot bigger and more successful... But hey rome wasnt built in day.

I'm still serious
This is not an emotive investment But it is exciting.
I treat my investment as a business.

Cheers, Dyor and GLTAH.