SML - Synlait

[Basil]

That $10 level looks very good ....esp for those that bailed about then

When did they join the NZX50?

Handful of punters at ASM this week .......far cry from when they got a standing ovation in their hey day

Was 2018 they joined the NZX50.  Interesting first week of the NZX50 expulsion process.  Started the week at $1.31, and steadily down all week to a new all-time low of $1.06 down 19% in one week!  They've been well and truly B Corp'd.   Plenty more pain to come for embattled shareholders next week.

[winner (n)]

Was 2018 they joined the NZX50.

Suppose that caused the run up to 11 bucks

[Basil]

20% gain on index inclusion...ask me how I know  ...down almost an identical percentage this week on index exclusion...spooky eh.

[Minimoke]

Well. There we go. Support at $1.00 gone. Now trading at $0.99

Edit: a few trades at $0.95 but closed at $0.97. And still 3 days to go til Friday. And no news of a Dairyworks sale. (Makes a take over bid by A2M look tastier)

[BlackPeter]

Well. There we go. Support at $1.00 gone. Now trading at $0.99

I see NTA used to be $2.69 (FY2022) - but then, so difficult to sell large chunks of stainless steel these days ;

[Minimoke]

I see NTA used to be $2.69 (FY2022) - but then, so difficult to sell large chunks of stainless steel these days ;

They can't even sell an icecream and cheese maker. And its summer and Christmas. And who doesn't just love a decent cheese platter and cone at this time of year?

[Hectorplains]

They can't even sell an icecream and cheese maker. And its summer and Christmas. And who doesn't just love a decent cheese platter and cone at this time of year?

 This has become a binary bet at his point. At the current price IF they can flick Dairyworks for a half decent dosh ($120m or more)  the share price might offer value.  IF they can't and a cash raise is the only way out... it'll be more  sp punishment.  Seems the dice are loaded and you'd need to be smoking a few cones to take these odds. 

[Minimoke]

Today's washup all done and dusted at $0.95. 6.439m shares traded

[Minimoke]

If it wasn't so funny this would be tragic.

Synlait today announce they are  re accredited B Corp.

Nope. No sale of DairyWorks achieved. No announcement to lift share price. No putting to right your tiff with your biggest customer.

No. Lets fiddle while Rome burns and aim for that prestigious B Corp Certification.

Wow, just bloody wow!. Increased their score to 97.7%

Dropped your SP from a high of $13.40 to an all time low on Friday of $0.95

[Basil]

The reaccreditation process would no doubt have required a vast amount of work from the senior management team.  What a wonderful growth company this has become and a shining beacon on the hill of why B Corp is so vitally important to all companies.  Really disappointed I sold all my shares at just under $12 average many years ago.  I could have been part of this wonderful B Corp journey.  Buggar...what a missed opportunity lol

[Minimoke]

The reaccreditation process would no doubt have required a vast amount of work from the senior management team.  What a wonderful growth company this has become and a shining beacon on the hill of why B Corp is so vitally important to all companies.  Really disappointed I sold all my shares at just under $12 average many years ago.  I could have been part of this wonderful B Corp journey.  Buggar...what a missed opportunity lol

I can tell you are really hurting @basil.

Howabout you pop down to Bunnings and buy one to those really nice Pinus Radiata seedlings. Don't fret about the rumours they are a weed - just hand your cash over and head to your back yard. When the moon is in the right place recite some incantations and plant the seedling knowing that you are doing your bit to stop Bangladesh from flooding.

(Please to hear you still have a boat - that will help keep you above any sea level rises.)

[Basil]

lol mate. We already have dozens of trees on our property which I simply let grow and do my bit to soak up heaps of carbon dioxide. There's so many companies trying to hide their pitiful financial performance behind an ESG facade these days it makes me nauseous when I read their sanctimonios B.S.

[Left Field]

Update from SML...... complex dispute with ATM it seems...and not a lot of good news for holders.

https://www.nzx.com/announcements/423987

[Minimoke]

Update from SML...... complex dispute with ATM it seems...and not a lot of good news for holders.

https://www.nzx.com/announcements/423987

It seems the relationship with their major customer is severely harmed. And no positive light on the sale of Dairyworks.

I wouldn't be surprised if the A2M claims succeeded. I reckon Synlait management have been too busy fussing around with their B Corp Accreditation to notice compliance issues with their no one customer.

And I don't like the worlds " a deleveraging plan". Seems to me financiers have had enough. What this probably mean is the banks insisting on a major "de-risking plan". It looks to me like they arent going to make the required $130m pre-payment.

And what does this mean "Working to significantly reduce debt levels which remain elevated,including the NZX listed bonds." Does it mean another cash raise through bonds is on the table. Gee - I'd be extremely worried if I was an existing bond holder. No way I could be encouraged to become a new totally unsecured future bond holder.

For me, any light of hope at the end of the tunnel appears to have been snuffed out. Synlait are now untouchable under any circumstance.

[winner (n)]

They conclude H124 profit to be down on last year

Jeez, last year Net NPAT was a miserly $4.8 million.

So essentially breakeven in first half ...that's not good