They can perform when they have to, take the attached capital raising presentation attached as an example and also an indication of initial intent.
http://www.adfl.com.au/assets/ASX-A...G-Investor-Presentation-13-May-2015-Final.pdf
They have subsequently dropped the ball and performed a series of missteps lately...enough to lose your job if you were an employee and on top of that they seek to lower the bar upon which they are measured and rewarded.
One of the unique things about the AHF business model was it was insulated against some external factors including fluctuating FGMP and volatility of raw milk supply. Then along came CDC and another external factor was mitigated against, being the global glut, by nature of their own cold supply chain for fresh produce into Asia and own branded products into a Woolworths. On top of that the upstream flow of costs and pricing volatility was removed altogether so that all parties from the dairy farmer to processor to consumer could focus on their inputs and receive a collective benefit from the end result rather than it being stepped and margin up at each step in the chain.
It does grind my teeth to see events of late and this announcement with its underlying intent so maybe the suggestion of 5% holders putting together an agenda item of a board spill for the upcoming EGM is not a bad thing and lets nip in the bud any further degradation of shareholder value.
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