I went to Breville AGM AND WANT TO MAKE SOME COMMENTS FOR SMALL SHAREHOLDERS LIKE MYSELF.
After stressing out in the traffic to get there. I arrived just before the start.
I was offered a coffee on arrival. Must say it was really good, maybe the best I've had.
This modern world, there is a place globally for a really good cup of coffee to destress one's body.
This set a high benchmark for Breville.
Staff were very friendly and really liked their company.
Solomon Lew as major shareholder was there.
Over time I have really grown to admire this man's business acumen.
As Chairman of PMV his remuneration is zero but is the major shareholder.
To me having skin in the game is important, he lives by this principle.
His livelihood is paid as a shareholder, like me.
He also holds 25.05% of Breville accumulated from the beginning.
He joined company when it was owned by the Obrien family and made it public to raise capital for expansion.
He doesn't interfere with the running of the company.
But does have directors who have the necessary experience to take the company forward.
Breville business is now 25% Australasian, 25% European and 50% American.
CEO James Clayton a USA Citizen has come from LG consumer electronics.
A very good strategy to educate Americans to destress by consuming excellent Coffee.
Recent buildup of inventory to $446m making BRG's products susceptible to heavy discounting with slowing consumer demand moving forward.
Means I might be able to buy a coffee machine this Christmas on sale.
After speaking to friends, I am informed the machines are reliable and work well for years.
Or I might buy some shares on the next dip. With shares on issue @147m shares I can see why the shares are $20.
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