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Ann: FY24 Investor Presentation, page-27

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Ru555

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28/08/24

11:29

Post #: 75411756
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Originally posted by Chevelle67: ↑

I think as long as Leath Nicolson is there, the GC and ex-director who signed off on the destruction of AMA's $400 mil. investment in the CapitalSmart JV with Suncorp, then Mat will be told that he has no other options, Suncorp owns us, just grin and bear it, ignore those pesky shareholders, they don't know how tough it is dealing with Stevie Johnston and Linda Harrison, they have no right to expect AMA to make any free cash flow when Suncorp holds all the cards. Sure, we fix 50% of Suncorp's claims, and after lease expense, we burn cash on the business, while Suncorp is making record profits. It's all perfectly fair and we should just be content to eek out a percent or two of incremental profit by becoming more efficient.

You say Suncorp can easily send the business elsewhere, but who has the capacity to take it? If AMA goes out of contract on CapitalSmart and sues Suncorp for the $400 mil. they stole from us, how long will Suncorp's policy holders have to wait to get their cars fixed while Suncorp re-routes 50% of their repair jobs to every available mom and pop shop in Australia?

It's nonsense. AMA has options. And it needs to change, fast. I really hope Ray and Phil are going to get involved.

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hi Chevelle67, specifically on the how would it take to get cars repaired elsewhere if they needed to?

the next 4 MSO's could have 10 new shops each operational before xmas/ easter if they choose ( and probably will anyway) The for under that could have 5 more each by easter. plus the independent's that would scale up. SMART only have 55 sites, so its not that dominate that they can run roughshod into the building.

AMA Price at posting: 5.3¢ Sentiment: Buy Disclosure: Held
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Ann: FY24 Investor Presentation, page-27

BCI reaches close of funding facility for salt-first part of Mardie project

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

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Ann: FY24 Investor Presentation, page-27

Top Stories

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Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

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