SML - Synlait

[Hectorplains]

Hmmm, he's only been in the big seat since December and less than 3 years on the Board in total. That's not exactly encouraging then...

The company blurb reckons, "Simon has a proven track-record in strategy and capital-intensive infrastructure investment."  Shareholders didn't get to enjoy much of that at SML.

[lorraina]

Simon's resignation is effective immediately.

I would guess either health or a bun fight.

[Basil]

I'd wager this is the result of a breakdown at board level due to conflict between the 3 Bright Dairy appointed directors, (they recently appointed senior members of their team), and other directors.  Good luck finding a capable replacement independent director to Chair this company...not that many capable people want the stress of a "hospital pass"

[Hectorplains]

I'd wager this is the result of a breakdown at board level due to conflict between the 3 Bright Dairy appointed directors, (they recently appointed senior members of their team), and other directors.  Good luck finding a capable replacement independent director to Chair this company...not that many capable people want the stress of a "hospital pass"

...surely there's a few more ex-Fonterra employees with time on their hands...

[Basil]

https://www.nzherald.co.nz/business/synlait-milk-chairman-simon-robertson-resigns-paul-mcgilvary-elected-acting-chair/67NM3VVHXNGVXHP42K5Q4K5HKM/

[Minimoke]

https://www.nzherald.co.nz/business/synlait-milk-chairman-simon-robertson-resigns-paul-mcgilvary-elected-acting-chair/67NM3VVHXNGVXHP42K5Q4K5HKM/

This is very concerning.

A resignation with immediate effect. No notice given. And the best they can say is "I would like to thank Simon for his contribution to Synlait. We wish Simon well with his future endeavours."

Even when Nigel Macdonald left they said "Nigel has built and led Synlait's operations team through COVID-19, which was a challenging period for the company and its people. Nigel leaves with Synlait's best wishes and thanks."

[winner (n)]

Watson probably doing a bit of clean out of his office I reckon ......Next to go

But Penno hangs in there to the bitter end

[Minimoke]

Robertson was only appointed to Synlai Director in Nov 2020 and to the Chair in December 2022. That is one very short tenure.

Especially when compared with Ruth Richardson - she been there since 2004. I wonder if she knows she is still a board Member? And Penno has been on the board since 2018.

[Crackity]

Robertson was only appointed to Synlai Director in Nov 2020 and to the Chair in December 2022. That is one very short tenure.

Especially when compared with Ruth Richardson - she been there since 2004. I wonder if she knows she is still a board Member? And Penno has been on the board since 2018.

She still mates with the Ship?

They could compare notes on Directors insurance?

[Minimoke]

Trying to wade my way through a 30 page power point presentation  for today's Investor  Day at pokeno.

Seems they have spent a lot of time designing icons. And stil lkeeping with the pink. Oh well!

But  really got stuck looking at the detail when I only got to Slide three and I read Synlait reckon they are "Processing partner of choice". And I'm wondering, was the person that set up this presentation not aware that SML's biggest processing partner is taking them to arbitration for not being a great pattern.

Seems they have had one of those meetings where they through all these random marketing  / production ideas on a white board. And the Icon designers have mashed the lot together to make it look pretty (by Bcorp standards - not mine) without a lot of factual detail.

[Basil]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SML/420677/406022.pdf

Didn't notice any chart on how their debt has really ballooned over the years, arguably the single most important factor when considering this company as an investment right now.  No charts on how eps has deteriorated over the years either.  Think they are trying to bamboozle institutions with their long-term goals and ESG aspirations.  Good luck with that lol

[Teitei]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SML/420677/406022.pdf

Didn't notice any chart on how their debt has really ballooned over the years, arguably the single most important factor when considering this company as an investment right now.  No charts on how eps has deteriorated over the years either.  Think they are trying to bamboozle institutions with their long-term goals and ESG aspirations.  Good luck with that lol

Don't expect them to provide any pertinent information while the bigger game is being played behind the scene.

I am calling a takeover to happen or control to pass in December when SML's sp goes into a steep fall due to exit from indices.

There is a time to play this stock!

[Basil]

That's a highly speculative play you've outlined there mate.

[BlackPeter]

Trying to wade my way through a 30 page power point presentation  for today's Investor  Day at pokeno.

Seems they have spent a lot of time designing icons. And stil lkeeping with the pink. Oh well!

But  really got stuck looking at the detail when I only got to Slide three and I read Synlait reckon they are "Processing partner of choice". And I'm wondering, was the person that set up this presentation not aware that SML's biggest processing partner is taking them to arbitration for not being a great pattern.

Seems they have had one of those meetings where they through all these random marketing  / production ideas on a white board. And the Icon designers have mashed the lot together to make it look pretty (by Bcorp standards - not mine) without a lot of factual detail.

Well, I think the message is quite clear:

1) Synlait's future is pink!
2) their new strategy is really complicated but pink and needs to be kept under wraps ... but
3) they identified a need for selling more cream and intend to cream the Chinese market ;

While some customers clearly have been happy to pay a premium to feed their prince or princess this amazing NZ sourced IF with a happy teddy bear on the can, I am wondering whether the same instincts apply if they buy for themselves a slice of unhealthy cake, made with NZ cream?

If I think about it - if I buy a slice of cake, I have normally no clue where the baker buys the ingredients.

Hmm - :confused: .

[BlackPeter]

Just curious - I noticed they published Friday afternoon an amended waver decision for various NZX listing rules.

https://www.nzx.com/announcements/420643

Clearly - if I would hold the shares I would need to read this document often enough to get the point.

However, I don't.

Anybody got a grasp of what they changed and why?