The problem is the management did not generate wealth for...

The problem is the management did not generate wealth for shareholders as they sold out their share and are not shareholder themselvers. Their interests do not align with shareholders'

Just look at a few facts:

* As at 31 December 2020 the market value of the Company’s nvestment in Synlait Limited was $226,734,000 ($5.23 per share).
As at 24 February 2021 the market value has decreased to $185,549,000 ($4.28 per share).

* They have $771m in cash but not show up anywhere from investment cashflow.

* They need to buy Mataura Valley Milk at $268.5m with an additional investment of $120m in first two to three years. Who knows if this will follow Synlait. I would say the value would more likely to be revised down than up given it is purchased from a company in China. We all know the political risk dealing with China, especially after Covid-19.

If they cannot manage the capital well, don't have better investment options and have $771m cash in bank, the safest bet is buy-back. I believe sharesholders do not want to see the value of Mataura Valley Milk be revised down 20% after a few months!

But anyway, I am no longer a shareholder of A2M now, as I totally lost faith in the management, especially after I talked to their investor relation department. I got a feeling they are very inefficent in taking actions and respond to the market. There are over 2000 companies in ASX. I will find another company with the top management's interest align with shareholders.