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.
IN the conference call it was explained that due to the nature...
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Last
$1.85 |
Change
-0.005(0.27%) |
Mkt cap ! $720.9M | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.87 | $1.85 | $1.084M | 582.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 39454 | $1.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.86 | 18230 | 1 |
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| Last trade - 16.10pm 06/11/2024 (20 minute delay) ? |
| RFF (ASX) Chart |