WLD - Wellard Limited
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skc
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Doesn't sound much like a going concern now, does it? $65m trading loss. Geez.
And what crap disclosure practice... one single shipment ran into trouble and company was forced to sell the cattles cheap, costing it $8-10m. Did that happen the day before the announcement? Or did that happen some time ago that the company should have announced as part of it's continuous disclosure. There's probably enough smoke for class action lawyers to sniff around.
Is it a takeover target? It does have some hard assets but it also has lots of debt. It might be in the lenders interest to take control and sell the hard assets, and it might be in the potential acquirer's interest to buy those assets from the administrator.
The actual operating business seems to have negative value based on the incompetence on display.
So_Cynical
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WLD now a certain loss for me, just a matter of how much, 100% is quite possible.
skc
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Sorry to hear mate. I think your top down thesis was correct. What you didn't expect was the sheer magnitude of management incompetence. I never read the prospectus in great detail but it would appear that the business was already in trouble operationally and financially, and the IPO was as much a lifeline as it was a public float.
Stockbailx
"Profit Compoundd" Rules
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Here's a interesting, stock proving its worthy of a look as it appears to be sustainable as, Wellard Limited (WLD) is a largest cattle exporter and a vertically integrated agribusiness that connects producers of cattle, sheep and other livestock to customers globally through a vertically integrated supply chain. Wellard operates in the beef, sheep meat and dairy industries.
Announced today with solid gains of over 31% it had been climbing since August last year from 0.06c to todays price of 0.12c, double in 6 months. Makes for a interesting prospect. (tricky business) can it maintain momentum...
HAD THIS TO SAY TODAY;
Wellard advised that is has successfully resolved its arbitration proceedings in London, against the Croatian Bank for Reconstruction and Development (Hrvatska banka za obnovu i razvitak, or HBOR), and is entitled to receive payments plus interest amounting to US$12.0m within 14 days. HBOR issued Company's subsidiary, Wellard Ships refund guarantees supporting Company's terminated 2015 contract for the building of the planned livestock vessel to have been known as the M/V Ocean Kelpie with the Uljanik d.d shipyard (Uljanik). When HBOR disputed payment under the refund guarantees, Company was forced to commence arbitration to recover the funds.
Announced today with solid gains of over 31% it had been climbing since August last year from 0.06c to todays price of 0.12c, double in 6 months. Makes for a interesting prospect. (tricky business) can it maintain momentum...
HAD THIS TO SAY TODAY;
Wellard advised that is has successfully resolved its arbitration proceedings in London, against the Croatian Bank for Reconstruction and Development (Hrvatska banka za obnovu i razvitak, or HBOR), and is entitled to receive payments plus interest amounting to US$12.0m within 14 days. HBOR issued Company's subsidiary, Wellard Ships refund guarantees supporting Company's terminated 2015 contract for the building of the planned livestock vessel to have been known as the M/V Ocean Kelpie with the Uljanik d.d shipyard (Uljanik). When HBOR disputed payment under the refund guarantees, Company was forced to commence arbitration to recover the funds.
