Essentially TAU has restructured itself and the previous private equity firm that owned Cashwerks has converted its holding of Cashwerks into equity in TAU for a 49.5% controlling interest. As of 12th August TAU no longer had any shares in AHF as they were all transferred to Jimmy Choo Choo which will not be listed on the ASX but on the NSX (National Stock Exchange - https://www.nsx.com.au/
Michael Hackett's equity interest, both directly and indirectly, in AHF hasn't changed.
For AHF shareholders holding out for the AGM in November nothing has changed and the TAU changes only really matter in that I wonder who will do the company secretary function, accounting & payroll and other administrative services that TAU used to do. IF TAU then it will need to be an arms length engagement with greater contractual and financial transparency than has existed in the past, not a bad thing either. If not then AHF will need to have it done by someone somewhere else and that will also need to be at arms length and transparent so lets see what they come up with.
Nothing to lose sleep over really and it is probably for the better in some respects.
Outside of, but related to, the TAU-AHF umbilical cord is one remaining thing that does niggle me. It is the AHF Stapled Units and the manner in which the farms are held and administered through a Responsible Entity and does bring TAU back in to play as it is currently the Responsible Entity for the Trust unless I have missed something in the AHF announcements to say this has changed.
AHF Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
