BFC beston global food company limited

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BPAM vs BFC, page-3

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blackspot12

112 Posts.

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07/11/19

09:25

Post #: 41290075
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Originally posted by JT565622: ↑

The other important factor is both the CFO and CEO are paid by BPAM as advised by their CFO Mr Flew, those two know who they are being paid by, how do you manage that conflict. You have the two most important players in Beston Global, being paid by BPAM. BPAM are paid on Company Assett Value not Profits.

IS it a coincidence that BPAM are getting paid handsomely for asset value and shareholders are getting nothing because of massive losses.

If I was the CEO or CFO I would be ensuring BPAM are looked after first and foremost with maintaining that asset value with the way they run the company and make recommendations to the board to ensure BPAM comes first, after all you would know who is paying your salary.

Ironically I received an email from the CFO, Mr Flew who made this statement

"The company has facilities in place with its bankers that should be sufficient to sustain the working capital needs of the business based on its FY20 budgets. If the company were to make a large investment, either a large capital project or an acquisition, the company would probably need to raise equity at that time. There are no current plans to make a large investment although the company does of course continue to examine options focussed on growing its core dairy and meat businesses."

The bestons model clearly has been to buy perceived undervalued assets like the cheese factory and get it revalued, this of course will assist BPAM in their return run by none other than Roger Sexton and Stephen Gerlach, with the assistance of the CFO and CEO of Bestons who are paid by BPAM. I wonder who encouraged this model considering the management company BPAM get paid on this value.

If shares were issued to but more assets to assist BPAM, what do you think would the share price would do with more shares issues and the shareholders thoughts, again a win for BPAM and a loss for shareholders.

Surely this is something ASIC needs to look into, the tail wagging the dog here you would think

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i find it abit odd that one of the directors of BPAM doent use his asset mangement company to asist his own company EBONY ENERGY in the way forward .The other thing is he uses a very good firm in Grant Thornton Audit so why dont BFC, they have offices in Adelaide.

BFC Price at posting: 9.4¢ Sentiment: Hold Disclosure: Held
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BPAM vs BFC, page-3

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BPAM vs BFC, page-3

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