I would be more worried that Leanne cuts the dividend, gets the...

I would be more worried that Leanne cuts the dividend, gets the price down and buys more stock, a classic play from the Pappy playbook. She has $30m cash in the bank the last thing she needs is more dividends. @friendlydwarves can probably give you an insight there.

Don't think Minto has that great a moat. You can buy all these products on Alibaba, they are just not certified in Australia. That process takes 18 months. Have a look. Reliability could be an issue but you only need 4 guys in a room to make the minto product Connec doesn't even have full time employees and they managed to get some trials.I'm sure Brad Dowe reads this and will be straight onto Alibaba looking for some plugs now. You can also get them from South Africa.

In terms of warehouse, if you have 2 warehouses costing $500k each and it costs you $1m to move you might save 2 people's wages. It might actually cost more at the new warehouse if you include depreciation of the new fit-out, hiring new staff because the old ones don't want to travel to the new location etc. Loss of productivity in the more and retraining.

I don't think Leanne knows how to run a public company or a business and I wouldn't rely on them maintaining their market share in this market with an owner who isn't involved in the business.