They paid the $66,000 fine for breach of continuous disclosure rules but then admitted they didn't do anything wrong. They wanted to pay the fine and move on running the business. If that is the case, they should settle the class action out of court.
On the other hand, the turnaround has been stunning. I lost 43k but have clawed back 1/4 of losses so far through buying A2. As a former investor I'm pleased for all long term holders. Glad the idiots and vultures who predicted doom for BAL back on January has left. Clearly had no idea about the business. At the time I posted the Aussie operations were doing well but thought the China business had stalled. Also, I posted management should have done a capital raising to pay Fonterra penalty and to bolster its balance sheet. If this had happened instead of few months later I would still be a holder.
Be interesting to see how its China operations is doing.
BAL Price at posting:
$9.78 Sentiment: Hold Disclosure: Not Held
