Note 27 of the AGM has the answer I think. Farm Pride sold eggs to companies owned and controlled by our directors for a sum of $8m in 2013. I won't say $8m worth because I am sure they were worth a different amount to that figure when they were sold to the public. Our directors sell the eggs via Woolworths and Coles and it would be interesting to hear what they get in return for the eggs they purchase off us. I am sure you would have seen plenty of eggs for sale by Western Eggs and Southern Eggs on your road trip.
Our Director Peter Bell is quoted as being involved in AAA Egg Company, Altona Hatchery, Days eggs, Hy-line Australia, Southern Eggs, Pure Food Eggs, West Coast Eggs and Novo Foods all of which are doing related party transactions with Farm Pride.
I wonder if Bell makes regular losses and gets no return on his money in these companies as happens to us in Farm Pride?
You don't think there might be a conflict of interest here?
GPASAS
FRM Price at posting:
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