Ann: Change in substantial holding, page-4

Staff Costs

On the staff costs, anyone know how many staff that TasFoods have these days?
Last quarterly had staff costs at $3.3m for the quarter, or $1.1m a month.
That seems high for me, considering we are just running a Chicken farm and Cheese making operation.
Google gives estimates anywhere from 12 to 85 employees depending on the source.
And LinkedIn wouldn't be a reliable source for this industry.
How many staff needed for the chicken farm? Couldn't be more than 25 people for an operation our size could it?
What about Pyengana? Maybe 20 to run cheese making operation and another 15 (some part-time) to run the outlet/cafe.
Add 15 for head office and you are at a 75 people.
Directors fees probably get built into that line item for a quarterly, but $1.1m a month for 75 people seems too high.
They need to look around and find at least 5 more, preferably 10 roles they can cut.
Continue to tighten the screws on costs and prove to the market the business is going to prosper!!

Board / Executive ShareholdingsI was also having a quick look at the Annual Report from last year.
It was disappointing to see that Josh, who is now CEO, wasn't a shareholder at the time of this report.
You would always prefer to see alignment with management.
Having said that, you look at the situation with Scott & Shona leaving and there is 40 million shares that likely got sold.
This would have weighed on the share price over last 18 months when they sold.
So with that lens on it, I am more comfortable not gifting shares to management who might leave and sell.
Would prefer to pay Josh his cash and he can invest on market if he wants to.