Farmgirl will be offline for a short time due to maternity requirements, but wants Ravensdown shareholders to consider the following, while waiting for the figures from annual accounts to come out:
1 How is it that if Ballance suffered significantly in the past year due to the global environment and has decided it can't afford to pay a rebate, that Ravensdown is claiming a much stronger balance sheet (again) and paying a rebate. Where is the money for that rebate coming from?
2 Have Ravensdown broken banking covenants and if so how much has that cost shareholders over the past year?
3 What is the debt to equity ratio of Ravensdown now - that is what counts. Pay attention to the level of borrowing and whether foreign exchange earnings is what is paying for rebates rather than profit.
Voting with their feet
54 minutes ago