A2m insights/ No confilct please, page-2

Nice topic thread title and relevant.

Point I would like to raise, has anyone noticed the share price of SM1. A2M holds 20% of SM1 and has to account for that share ownership in its financial statements in the balance sheet as 'Other Financial Assets'.

A2M owns 43.3m shares of SM1.
In the Dec half year they wrote down $62m of the carrying value of their investment in SM1 through a hit to the P&L with the balance sheet recording $226.7m carrying value.

However since Dec31 the share price of SM1 has further plummeted. At the current market price of $3.39 (new zealand share market and new zealand dollars) the current market value is 43.3 x $3.39 = $146.8m.

So if things continue expect a further $80 odd million write down in in the FY21 June year end accounts.
In total that will be $140m odd of write downs that will have occurred in FY21 as a result of their investment in SM1