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BFC - Beston Global Food Company

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A video based on counterfeiting food. Something Beston will beat with their exclusive Brandlok Technology
 
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Well, cryptocoins you certainly are a fan of this company. It is the only stock you have commented on during your time on these fora. With 716 million performance options having been created so far this financial year (according to the company full year report) - none of which have been issued yet - this could be the pump and dump sensation of the year.
 
I just spoke with the Company Secretary, who is also CFO and the 7 in the 716 million figure is a typo, which I suspected. So, consistent with s3C of the directors report, the number of founder performance options is 16 million.
 
tinhat said:
I just spoke with the Company Secretary, who is also CFO and the 7 in the 716 million figure is a typo, which I suspected. So, consistent with s3C of the directors report, the number of founder performance options is 16 million.
Click to expand...
Thanks mate, I must admit I tried to figure it out myself on the weekend and couldn't find an answer. Mystery solved.
 
I reckon that a 'BFC distribution deal with the Koreans' is as good as guaranteed as the first paragraph of the clean seas tuna deal article suggests. Just getting the finer points sorted out before BFC starts exporting to South Korea imo

Clean Seas Tuna Limited, the Australian fish company, said today (4 July) that it has secured a distribution deal to expand in China and South Korea.

http://www.just-food.com/news/clean-seas-enters-china-south-korea-with-beston-tie-up_id133710.aspx

http://www.stockandland.com.au/story/4055665/beston-in-talks-with-koreans/?cs=4583

Deal secures first China-Adelaide direct flights (moving BFC products to China faster & cheaper..)

http://indaily.com.au/news/2016/07/26/deal-secures-first-china-adelaide-direct-flights/

----------------------------------
2016-17 – a great year for exporting
While predictions and forecasts are often packaged with caution, the conditions for exporting in 2016-17 are as good as they have been for years. Australia's small business exporters have excellent opportunities ahead of them, if they continue to take advantage of the depreciating dollar, recent FTAs, a growing middle class in Asia, and by using technologies to break down borders. 2016-17 has the potential to be a great year for Australia's exporters.

http://www.smh.com.au/small-busines...for-australian-exporters-20160726-gqdpiu.html
 

No idea on the fundamentals but looks like some bigger players have been offloading into the "perceived" good news. This is normal for these illiquid stocks. If gap filled and rejected, could be a goer.

3 very weak closes now on a huge increase in volume. Good chance of coming back to fill the gap.
 

Attachments

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media coverage in Business Korea:

http://www.businesskorea.co.kr/engl...ngshim’-affiliate-taekyung-ready-distribution

The lower $AUD is an added bonus to potential BFC deal.. as improves revenue $$ and their margins on these type of premium products imo

Once their foothold is in South Korea next step would be China and even perhaps India (targeting an ever increasing middle class etc.).

Please DYOR as always.... Cheers tela
 

Beston Marketplace has just recently launched their 'global online marketplace', selling the highest quality Australian sourced, produced, premium foods. Beston Marketplace have partnered with some of Australia’s top producers to bring a market shopping experience to the tables of local Aussies. The marketplace features a great range of local and ethically sourced produce ranging from local cheese to Sashimi Grade Tuna – perfect for entertaining at home.
Consumers can also trace all of their produce back to the source, using their mobile app Oziris.

Beston Marketplace (@bestonmarketplace) • Instagram photos and ...

https://www.instagram.com/bestonmarketplace/

We aim to supply the world with the highest quality, clean and healthy Australian Food! #highestquality
Beston Marketplace - Australias Premium Online Food Store

https://bestonmarketplace.com.au/

Beston Marketplace is an exclusive online store selling Australia's highest quality locally sourced food and produce.
Beston Marketplace - Photos | Facebook

https://www.facebook.com/Beston-Marketplace-462301387308216/photos

Beston Marketplace. 640 likes · 106 talking about this
 
Watching BFC closely (on the back of VIT takeover offer at a premium $2.25c announced).... shows you why any food group stock with exposure to Asian markets can suddenly be snapped up!

Surely BFC can and will come good in due course but hopefully remain around for a while yet before something similar happens imo

Please DYOR

Cheers tela
 
Dona Ferentes said:
and ... Beston’s assets are also managed by a management company, Beston Pacific Asset Management, which charges Beston fees
Click to expand...


The Australian Financial Review has a lot to say about this unusal practice , that doesn't seem quite moral, but I guess it makes Sexton a lot of coin at the expense of a failing company, surely he cant get away with ripping off his shareholders


https://www.afr.com/rear-window/beston-global-food-company-s-unorthodox-arrangements-20191028-p534xt


"The investment banker, ex-IOOF chair and now Beston Global Food Company chairman presides over an ASX-listed entity that's found a way to avoid disclosing its executive remuneration while paying a company owned by Sexton $2.4 million a year – a figure apparently calculated on a portfolio value that, as of Monday, must stand at more than four times its market capitalisation.

Did we mention Sexton is the South Australia and Northern Territory president of the governance-focused Australian Institute of Company Directors? Outstanding."
 
JT565622 said:
The Australian Financial Review has a lot to say about this unusal practice , that doesn't seem quite moral, but I guess it makes Sexton a lot of coin at the expense of a failing company, surely he cant get away with ripping off his shareholders
Click to expand...

Seems rather concerning especially given that shareholders have lost most of their money since the share price peaked in early 2016. It's not as though there's some outstanding performance worth rewarding.
 
Smurf1976 said:
Seems rather concerning especially given that shareholders have lost most of their money since the share price peaked in early 2016. It's not as though there's some outstanding performance worth rewarding.
Click to expand...


After reading the company statements unsure on how they will recover, the company was established originally to take on the populations and volumes on china, it now seems to have decided to change that focus to Australia a population not even the size of shanghai. Not only that they need to compete with the low margin competitive nature of the Australian Market.

With 100% increase in losses and 100% increase in debt from last year to this year, it may only be a matter of time before assets must be sold or a dilution of shareholding will occur, unless there are some pretty ballsy banks out there to support them

Not a great position if you are holding shares in this company
 
BFC SIGNS MOU WITH LEADING THAI COMPANY AND EXPANDS EXPORT
REACH WITH SIGNING OF CONTRACTS IN JAPAN
• BFC has significantly strengthened its position in Asian markets with
the signing of an MOU with KCG Corporation in Thailand
• Subject to mutual due diligence by both parties, KCG will become a
strategic investor in BFC and subscribe for 103,626,943 shares in
BFC at a price of 9.65 cents per share (for a total subscription
amount of $10.0 million)
• BFC and KCG have a well established trading relationship and strong
history of working together. The arrangement will enable BFC to
increase its penetration into ASEAN markets with its products
• BFC has also recently secured a number of export contracts to Japan,
which in total represent approx. 20% of its annual production of
mozzarella
• The signing of the MOU with KCG and securing of contracts with
major Japanese food importers reflects the persistent focus of BFC
on its objective of producing premium quality products which meet
the stringent standards of its customers
Beston Global Food Company Ltd (ASX:BFC)(“BFC” or “Beston”) is pleased to advise
that it has signed a Memorandum of Understanding (MOU) with KCG Corporation
(KCG) in Thailand via which KCG will become a strategic investor in BFC and enter
into a long term supply agreement for the supply of its dairy, meat and alternative
meat products into Thailand. The MOU is subject to mutual due diligence
investigations which will be undertaken by both BFC and KCG over the next two
months.
- 2 -
KCG Corporation
KCG is the leading importer of dairy products into Thailand and one of the largest
suppliers of premium quality food products to the Thai market. The Company was
established in 1958 and has been one of the pioneers in bringing globally produced
dairy products to Thailand with a focus on cheddar cheese, mozzarella, butter, whey
and ingredient products.
It owns the “Allowrie” and “Imperial” brands in Thailand and supplies products to
most of the major supermarket chains in Thailand including Big C, 7-Eleven, Tesco,
Makro and Foodland.
KCG has expanded its operations over the last 30 years with the establishment of
distribution outlets across most of Asia and has also expanded its product range
over this time to include meat, seafood, artisan fine foods and canned goods.
BFC and KCG have a well established trading relationship and a strong history of
working together. Following the work done to establish the Beston brands in
Thailand by BFC in its early years, KCG and BFC reached agreement for KCG to
assume responsibility for the importation and distribution of Beston products in
Thailand. BFC and KCG have also collaborated on the development of a mozzarella
product specifically for the market in Thailand and several other ASEAN countries.
The MOU which has been entered into by BFC and KCG recognises that a strategic
partnership between the two companies can unlock further value for both BFC and
KCG. Under the arrangements, KCG will become the official representative of and
exclusive distributor of Beston products in Thailand and enable BFC to increase its
penetration into ASEAN markets with its products.
Thailand imports more than 10,000MT of manufactured dairy products each year
from all over the world and has also been increasing its imports of dairy
nutraceuticals in recent years (including Lactoferrin). KCG has identified the
opportunity to take the meat and plant protein products produced by the Provincial
Food Group (PFG), a wholly owned subsidiary of BFC, and distribute these products
into Thailand and other ASEAN countries.
KCG will also untap the potential of other BFC retail brands, in particular, Eigh+
alkaline water and Immune+ Lactoferrin drinks, as well as exploring the
opportunities for co-packing partnerships in Australia using BFC produced
ingredients.
- 3 -
The arrangement will help to provide supply security for KCG for Australian dairy
products.
Subject to the completion of satisfactory mutual due diligence investigations, the
implementation of the MOU will involve KCG subscribing for 103,626,943 shares in
BFC (representing approximately 12% of the currently issued capital of BFC) at a
price of 9.65 cents per share. The total subscription amount will be $10.0 million.
The subscription price represents a premium of 69% on the closing share price on
22 June 2022.
Japanese Contracts
BFC is also pleased to announce that it has recently secured a number of significant
export contracts to Japan, representing approximately 20% of its total annual
mozzarella production.
Japan is the world's second largest importer of cheese and shipped in 70,000 tons
of natural cheese from Australia in 2021, ahead even of traditional large-scale
exporters such as New Zealand and Europe. Consumption of natural cheese in
Japan has risen year on year for the past decade to a current level of approximately
220,000 tons per annum.
BFC is well positioned to service the Japanese market through its world-class
mozzarella plant at Jervois which has seen mozzarella production increase from
4,400 tonnes per annum in 2019 to 15,000 tonnes in this financial year.
BFC recently received the award of “Best Mozzarella in Australia” for its mozzarella
cheese at the 2022 Dairy Industry Association of Australia (DIAA) Awards in
Melbourne.
BFC has been working on gaining entry into the Japanese market for a number of
years, while acknowledging that this market has stringent quality requirements.
The CEO of BFC, Mr Fabrizio Jorge said “that the securing of contracts for supply to
some of the largest and best known food companies in Japan reflects the great
progress which is being made in execution of BFC’s ten year Business Plan”.
“Producing and delivering premium products to premium markets is a long-haul
journey and our goal has always been to establish long-term, sustainable returns
for our shareholders through markets and channels that recognise the quality of
South Australian produce”.
- 4 -
“Japan is serious about the quality of the cheese it imports and they have found a
very capable and like-minded partner in Beston”, added Mr Jorge. “It’s a tough
market to break into but the hard work of the Beston team has paid off”, he said.
BFC is also on track to sell approximately five tons of its high purity Lactoferrin in
several global markets such as China, USA, South Korea, India and Europe before
FY22 year end, bringing total Lactoferrin sales for the current financial year to
around 8.2MT.
Lactoferrin is a multi-functional dairy protein extracted from milk that has a wide
range of health benefits, especially in boosting immunity. The Company was
recently granted registration from the Australian Therapeutic Goods Administration
(TGA) for three Lactoferrin products which aid bone, muscle, growth and immune
system support respectively.
Through strategic investments and excellent relationships with dairy farmers,
Beston has grown its milk supply from 17 million litres per annum in 2015 to 155
million litres this year and has won 161 major industry awards for quality since
2015, both in Australia and overseas.
This ASX Release was approved and authorised for release by the Board of BFC.

i do not hold this share

i normally crunch the numbers and go looking elsewhere

is it different this time ??
 
divs4ever said:
is it different this time ??
Click to expand...
Nope.

Beston Global Food Company (ASX:BFC) intends to discontinue and divest its Provincial Food Group (PFG) meat and plant-based meats secondary process business, its Aqua-Essence water assets and business and its Technology business.

The Chief Executive of BFC, Mr Fabrizio Jorge, said: “The decision will enable Beston to accelerate our profitability, and our cash flows.”

Shares are trading at 1.1 cents.

....
slimming to greatness. Lots of write-offs I'd imagine
 
23 September 2024

Beston Global Food Company Limited (ASX:BFC)

KPMG appointed Voluntary Administrators ​
KPMG announces that on Friday, 20 September 2024 at 4:30pm ACST, Partners Tim Mableson, James Dampney, Gayle Dickerson and David Kidman were appointed joint and several Voluntary Administrators of Beston Global Food Company Limited and its subsidiary detailed below.

The Administrators have just commenced the Administration process where they now control the assets, trading and day-to-day operations of Beston, with the priority being to undertake an immediate assessment of the business and its operations to assess options and notify stakeholders of the appointment.

The Administrators current intention is to continue to trade
 
Dona Ferentes said:
KPMG appointed Voluntary Administrators ​
Click to expand...
Beston Global Food, the ASX-listed group behind the Edwards Crossing Cheese Company and Mables brands, will be wound up after administrator KPMG was unable to find a buyer for the operations, which had 160 staff when it collapsed on 23 September.

One of Japan’s biggest dairy producers, Megmilk Snow Brand, walked away from a deal to buy its assets, triggering the administration. KPMG said on Tuesday that Beston would now undergo an orderly wind-down, and milk production operations would cease on 06 December.

The administrators will continue to trade the operations on a “business as usual” basis until the completion of the current production cycle, which is expected to occur within the next two weeks.

KPMG said that because of significant trading losses being incurred every week, it was unable to fund the business beyond November 30. “Therefore, the administrators have been left with no alternative but to wind down the business and begin an orderly sale of its assets."
 
Beston Global Food Company Limited to be wound down and cease operations

26 November 2024

The Voluntary Administrators (Administrators) of Beston Global Food Company Limited(Administrators Appointed) (ASX: BFC) and its subsidiary, Beston Pure Dairies Pty Ltd(Administrators Appointed) (collectively referred to as ‘Beston’) have announced that Beston will undergo an orderly wind down with milk production operations to cease from 6th December 2024.
The Administrators will continue to trade the operations on a ‘business as usual’ basis until completion of the current production cycle, which is expected to occur within the next two weeks.
A second meeting of creditors is expected to be convened in late January or early February 2025.
At this second creditors meeting, creditors will decide if the company is placed into Liquidation or whether a Deed of Company Arrangement can be accepted, should one be proposed between now and that meeting.
Due to significant trading losses being incurred on a weekly basis, the Administrators were not able to fund the business beyond 30 November 2024.
Therefore, the Administrators have been left with no alternative but to wind down the business and begin an orderly sale of its assets.
A process to sell the business as a going concern commenced on 26 September 2024 with several parties expressing initial interest. While the Administrators provided certain parties with additional time to finalise the terms of their respective offers, these parties have been unable to put forward a binding offer for a going concern sale.
Ultimately, the sales process has failed to secure a buyer in the time frame required given the trading losses being incurred.

Detailed findings about Beston’s affairs will be reported to creditors in due course and as part of the normal administration process.

The appointment of Voluntary Administrators covers the following Australian entities:
• Beston Global Food Company Limited ACN 603 023 383
• Beston Pure Dairies Pty Ltd ACN 606 417 994

For further information
For all enquires please contact beston@kpmg.com.au

i did not hold this share , but was tempted a couple of times

another bullet dodged
 
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