IN the conference call it was explained that due to the nature of the business (having $250m of cattle roaming all over the place) the working capital value couldn't be determined exactly on the settlement date.
After settlement it was found that $30m of equity was left in the business that was owed to the previous owner. RFM took out a loan of $30m & paid the prior owners directly.
In order to recoup the $30m J&F bought back some of the shares RFM owned via a share buy back for $30m.
All of this is quite normal & not in a bit illegal or suspect.
No funds were transferred from RFF to RFM, that is a Bonitas lie.
J&F $30M payment, page-3
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Last
$2.00 |
Change
-0.020(0.99%) |
Mkt cap ! $784.2M | |||
| Open | High | Low | Value | Volume |
| $2.02 | $2.02 | $2.00 | $28.20K | 14.07K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 26426 | $2.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.01 | 3765 | 6 |
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| Last trade - 10.28am 05/07/2024 (20 minute delay) ? |
| RFF (ASX) Chart |