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4.2¢ health and plant protein group limited

Ann: Update on Kapua Orchard Strategic Review, page-5

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rasaj

1,800 Posts.

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31/07/21

19:51

Post #: 54932365
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Originally posted by Artvandelay01: ↑

Disappointing to see the Kapua Orchard timetable drag out materially. The board has done a decent job of transforming the company up until this point, but they have overpromised and under-delivered here.

Consequently, the $10m of AMD con notes maturing in September will likely need to be rolled/extended another 6-12 months based on the current timetable. Not a big deal as they only bear interest at 4% but they are still a weight on the capital structure and SP.

Still, even if you halve the independent valuation ascribed to the Kapua Orchard of ~$45m AUD, and add in net cash (incl inventory) we’re still trading around a nil/nominal EV so not much downside risk. If it gets back to $0.225-0.23 again, I’ll be adding

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Looking at the 4C it seems they're open to discussions with any potentially interested parties earlier.

HPP Price at posting: 27.0¢ Sentiment: Buy Disclosure: Not Held
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