Where can we see these financials then for NS? I don't see any announcement showing these.
I see in the AGM Presentation they showed 2019E (estimates, not actuals). See page 21 of the AGM Presentation.. https://hotcopper.com.au/threads/ann-agm-presentation.5085244/
Plus there was some mention of an independent expert valuation of NS. This was going to be received either the day of the AGM or by the end of the week (if I remember rightly) but they haven't appeared.
Honestly, the fact that the 2019 Financials for NS are not available is a bit of a red flag. If this deal has been around for a long time (14 months was mentioned) or even several months, then why hasn't NS got their act together and got proper financials, audited and presented? Isn't someone being paid lots of money for this deal to happen? Surely some of this money could have been put into resources of an Accountant to put together this for them. This is a $85m deal and 4 months after EOFY there are no accounts available?
I will add that the loan to the Director also is strange. You can mention it is a tax-thing as much as you like, but this sort of loan just complicates things for a company and his sort of directors loan should have been cleared out of the most recent accounts. They could have even paid the dividend on 1 July 2019 and issued new updated accounts after that date (at, say, 30 September) easily enough. For all of this to be still hanging in the air just muddies the water.
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