RFF Webinar, page-33

My notes from conference call:

• Management are absolutely confident in the accuracy of the company financial statements and happy that the market has sufficient information to trade
• Trading halt will be released immediately
• The MD will be buying shares in the coming days (stated twice while answering questions)
• Other Directors intend to do the same, staff may also be buying
• EY to take 3weeks (estimate) to respond to Bonitas Research Report
• Detailed response from an independent 3rd party
• EY will speak to the accounting standard and how they differ from lease receipts to lease payments
• PWC (current auditors) and will back up the upcoming annual accounts
• Current Net Asset value for RFF – Per unit $1.75 (31Dec 2018)
• Annual accounts to be released soon will show a positive movement to that balance
• Guidance remains on track for the annual accounts to be release in coming weeks
• Dividend remains on track
• The cashflow is what supports the dividend
• Payout ratio is about 80%
• Bonitas Research has not contacted the company
• Almond orchards are independently valued