Ann: Market Update, page-2

So they've sold PFG for $4m, or roughly half of the net value of the land and buildings they disclosed in the last annual report. What an outstanding achievement from the board and management....



And of course, the cash proceeds from the sale won't help catch up payments to farmers, as NAB are (fairly enough) entitled to reduce their massive exposure to this debacle.

I can't belive that NAB would extend the debt facilitieis by TWO months (not three as stated - who proof reads these things?!) unless there is a hopfully a decent non-biding offer on the table that BFC need to work through.

The laughable statement that these offers could "provide an opportunity to re-set the financial foundations of the Company and help ensure that the hard work which has done in building the business from scratch over the past ten years yields benefits for all stakeholders" shows how deluded the board and management are.....