News: GAP Gale Pacific Sees HY Loss Of About $3.6 Mln, page-13

My understanding is their is an incentive ( call it a rebate ) that is payable when a distributor sells a certain amount of goods. What I have been advised is previous management agreed to revise the level of sales where this is payable to a lower point a couple of months before they left.

Part of me thinks these guys are cleaning up the books, the very cynical part feels as these guys often get paid via shares there is a personal incentive but this could be clutching at straws.
my guess is the buy back will be stopped and maybe the dividend reduced to 1.5c per annum
I have decided to buy a few extra at the 19-20 range and am happy to sit back to see how it unfolds over the medium term. My only saving grace is I used to have a big position and reduced it over the last 18 months and sold some of the last two downgrades and bought again lower but other than that it’s been a crappy hold for the last 3 years