Australian (ASX) Stock Market Forum

NOU - Noumi Limited

Freedom Foods Group has shed its name, and part of its rocky past, as shareholders voted in favour of its new moniker, noumi Ltd. The name change is required following the sale of the Freedom Foods brands with the Cereal and Snacks division this year.

At its AGM on Thursday, a largely refreshed board survived a spill motion after a small protest vote on the remuneration report meant no second strike was recorded.

New chairman Genevieve Gregor said the UHT milk and plant-based drinks maker’s remuneration framework has been completely overhauled to offer appropriate rewards and incentives.
 
I am amazed its survived in any form. It fascinates me that any investor would consider putting their capital into something like this, or that any existing shareholders would leave any capital in it. Just mind boggling.
 
On November 30th, 2021, Freedom Foods Group Limited (FNP) changed its name and ASX code to Noumi Limited (NOU).
 
I hope I'm wrong, but I get a feeling that this company has chopped off so many limbs it has become structurally unsafe and any small gust of ill winds will see it topple to the ground.

The current portfolio of products is trying to aim at the health conscious public, both dairy and plant based. This is a growing market, but there is a lot of competition and it is a controversial one. People with no dietary concerns will have no problems with noumi, but Vegetarians and Vegans may look elsewhere.

Good luck.
 

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from around the traps... Perich family still running the show.
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Noumi (ASX:NOU), the company behind MilkLab and a range of plant-based dairy products, formerly known as Freedom Foods, has shown promising progress with a sharp reduction in its annual loss for the year ending June 30, with a loss of $46.9 million. The turnaround strategy, implemented after a near-collapse situation two years prior, delivered a quarter of the staggering $161 million deficit from the previous year.

Annual revenue saw an uptick of 5.6%, reaching nearly $552 million, driven by growing consumer interest in its dairy and nutritional offerings, particularly the MilkLab line of almond milk.

This shift was mirrored in the company's adjusted operating EBITDA, a non-traditional measure of profit, which surged to $30.4 million for the fiscal year 2022-23, compared to a modest $7 million in the preceding year.

The reported net loss incorporates non-cash impairments totaling $8.2 million related to the valuation of plant and equipment in the Dairy and Nutritionals segment, as well as $39.5 million in adjustments to the fair value of convertible notes.

Directors clarified, "Excluding these non-cash items, the Company reported a positive net profit after tax of approximately $0.8 million, compared to a loss of $80.3 million in FY22.”
Directors attributed the 10.8% revenue growth of the Consumer Nutritionals portfolio to investments in brands like Vital Strength and the development of new products.

The company maintained a slight increase in cash at bank and undrawn facilities, amounting to $36.6 million, ensuring sufficient liquidity for day-to-day operations in line with current market conditions and expectations.

CEO Michael Perich stated "The past year marked significant progress for Noumi as we advanced through our three-phase Reset, Transform, and Grow strategy in the face of occasional headwinds. Our focus on executing our plan has yielded tangible accomplishments on the path to sustainable, long-term growth."

"In addition to the continuous expansion of our Plant-based Milks business, exemplified by another record earnings performance of our flagship brand, Milklab, we are particularly pleased with the substantial turnaround in Dairy and Nutritionals."

"Dairy and Nutritionals, which recorded an operating loss in FY22, achieved positive adjusted operating EBITDA in the latter half of FY23, representing a significant stride towards long-term sustainability."

"Looking ahead, our priorities include enhancing distribution for the Plant-based Milks business both domestically and internationally, and solidifying the recovery in Dairy and Nutritionals. Despite challenges posed by the ongoing dislocation of the Australian farmgate milk price from global prices, we remain committed to adapting to the market's demands
."
 
Another price spike. I can't see a reason for it, but that seems the norm.

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Country Lass consumes some of their products so I have kept an idle eye on NOU. We had a discussion with some retailers during recent travels and it came up that the sales of NOU's products are certainly trending up with some becoming increasingly popular.
The share price has been bumbling along until recently when it was announced the class action has been resolved. It jumped a couple of days and I thought it was now reflected in the price and would wait for it to settle down - WRONG. Up 20% at the moment.
I should have known better because all 5 breakout triggers were there.

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I received the class action news yesterday

me too. ... the old Freedom Foods FNP ... there's money if you bought in a specific window ::::

Class Action Settlement

3. This proceeding has settled, subject to Court Approval. The plaintiffs and defendants have agreed that an amount of money (called the Class Action Sum) will be paid to the plaintiffs on behalf of group members.

4. Not all Group Members are eligible to participate in the proposed settlement and share in the Class Action Sum. The Court previously made orders that only those Group Members who registered their claims with the plaintiffs' lawyers by 15 November 2023 would be eligible to participate in the settlement, unless the Court makes further orders.

5. You are a Registered Group Member if you are a Group Member and, before 4:00pm AEDT on 15 November 2023, you provided your name, contact details and information about your shareholding to the litigation funder of the class action, Omni Bridgeway. If you are a Registered Group Member, you are eligible to participate in the settlement.

6. If you did not register your claim, you are not a Registered Group Member and are not eligible to participate in the settlement and distribution of the Class Action Sum. Options for Unregistered Group Members are described below (Options C and D at paragraphs 51 to 54).

ASIC Penalty Sum for shares purchased during 29 August 2019 to 25 May 2020

7. Separately from this class action, ASIC brought a proceeding against the First Defendant (Noumi). Noumi has been ordered to pay a penalty as a result of its conduct that affected shares purchased in the period 29 August 2019 to 25 May 2020 (inclusive)
 
I checked because I used to hold..
.... ah! the mists of time and fading memory

bought x 2 in 2015; sold all in 2016.

Ambulance chasers !!
 
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I get an email from the layers, I believe I filled their forms
The good thing with excel spreadsheets:
quick search in the FY required as stored in the Tax folder for that year, and quickly get the various affected trades, then find back the emailed pdf trade notices.
A lot of work for not much, but let's get the bastards..so far, there was always some nasty "insider kept info/trading" so no pity...
 
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