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.
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