FRM 6.38% 10.0¢ farm pride foods limited

Ann: Results of Meeting, page-3

  1. 124 Posts.
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    Got no problem will selling an asset well above book value.
    It demonstrates the underlying true asset value of the business, and avoided a capital raising that would probably have been at a discount.
    FRM is getting into interesting territory in terms of valuation, especially given NTA of 40+ cents per share (mostly backed by property).
    Question is are they going to bleed cash for some time yet or are they able to turn this around?
    There's not a lot of positive news in the report.
    Everything seems to hinge on the success of the new "value add" strategy.
 
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