Group chairman Mark Wynne encouraged farmers to read the new booklet that featured financial, operational and governance information to help them make an informed decision on the proposal.<\/p>\n
An independent advisory report by Northington Partners also assessed the midpoint of Dawn Meats\u2019 investment at $1.18 per share.<\/p>\n
Wynne said the report was clear that alternative investment options were very limited.<\/p>\n
\u201cSo the Northington Partners report is very black and white, that this is a good proposal for shareholders.<\/p>\n
\u201cIt represents a 93% uplift on the midpoint share value for current Alliance, versus Alliance post-investment.<\/p>\n
\u201cSo that\u2019s good news, but they also look at the alternative and say if it is not a yes vote, that process looks pretty dark and could result in insolvency.\u201d<\/p>\n
The report showed Alliance could pursue asset sales, site closures or large cost reductions \u2014 it could attempt to raise capital from shareholders or other investors, or face insolvency.<\/p>\n
Outside of helping the co-op\u2019s financial position, Wynne said Dawn Meats had plenty to offer.<\/p>\n
\u201cThe deal that we have on the table is a really, really positive deal.<\/p>\n
\u201cNot only does it solve our financial balance sheet challenge, but it also brings a great partner in Dawn Meats to the table, where there is a lot of benefits beyond just the financials.<\/p>\n
\u201cSo they are strong in beef, we are strong in lamb, they are strong in UK and Europe, we are strong in North America and China.<\/p>\n
The shareholder vote outcome will be announced on 21 October.<\/p>\n
– RNZ<\/p>\n","protected":false},"excerpt":{"rendered":"Group chairman Mark Wynne encouraged farmers to read the new booklet that featured financial, operational and governance information…\n","protected":false},"author":2,"featured_media":31437,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[13738,138,209,9858,6121,1426,111,139,69,30204,1118,3236,22053,30203,17185,8218],"class_list":["post-31436","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alliance","tag-business","tag-group","tag-if","tag-insolvency","tag-investment","tag-new-zealand","tag-newzealand","tag-nz","tag-ockuysen","tag-of","tag-overseas","tag-reject","tag-shareholders","tag-stephanie","tag-warns"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=31436"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/31437"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=31436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=31436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=31436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}