A couple of weeks ago I looked at buying some RIC but did not due to 'The Weekly Times' (Vic) highlighting in a couple of issues the (limited, as it's not every cow on one farm) Supreme Court of Vic action against RIC initiated by one Gippsland dairy farmer.
It's not that one case is so important, but the potential for there to be others.
I wish RIC every success and in some ways would like to hold some shares, but I just adjudged the risks too large at this stage.
The writedown of that technology unfortunately confirms my view (which wasn't based on any knowledge about the latter).
Boards (and CEOs) need to be seen to be transparent as well as actually being so. Perceptions matter.
RIC Price at posting:
69.0¢ Sentiment: None Disclosure: Not Held
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