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Palandri Share Discussion Threads
Showing 276 to 298 of 300 messages
|Very sudden but Palandri goes into administration. Its not looking good.
Did you say something?
I wonder what excuse they will come up with in March!!!!
|Final work on the due dilligence is currently being done with listing targeted by the end of March 2008.
Happy new year.
|Received AGM doscuments yesterday.Atleast they still acknowledge UK holders.|
|Looks like they raised new money at 8.1p per share. I would be happy with a return at that price.|
Palandri listing on the way after $2.2m profit
7-November-07 by Julie-anne Sprague
Australian Securities Exchange-bound wine producer Palandri Ltd has reported a 2006-07 net profit of $2.2 million, with the bulk of its revenue generated from managed investment scheme fees and asset revaluations.
Total revenue was $54.5 million of which sales from bottled and bulk wine was $4.7 million.
Palandri generated gross profit from bottled wine sales of $656,566, up from $448,186 the year earlier but posted a loss of $296,400 on the sale of bulk wine compared to a $4,710 profit in 2005-06.
In a statement released by Palandri, Darrel Jarvis said the winery had successfully focused on improving its margins and it was realising an increase in the average price per case and average price per bottle.
The Margaret River winery's net profit of $2.2 million is down 47 per cent on the $4.2 million profit it posted last year, a result which benefited from a restructuring of the group's activities.
The business has again restructured its books in a bid to simplify its structure ahead of a stockmarket float, which it has flagged could be pushed out to early in 2008.
Palandri delisted from London's Alternative Investment Market almost a year ago with a view to list on the Australian stock market this year.
Palandri recorded $24.2 million in revenue from wine production and marketing fees related to its managed investment schemes, up $3.3 million on last year.
It has also revealed that it has entered into an agreement with a "significant creditor to settle amounts due at the balance sheet date". The company said the settlement is conditional upon its ASX listing and if conditions of the settlement were not met the creditor had the right to purchase, via an option agreement, key viticultural assets of the group.
Palandri also said that if it met its "capital raising targets" as part of its stock market float it would repay a loan facility, which stood at $11.8 million at June 30. However, it said if its listing did not proceed the financier would work with Palandri "to agree a satisfactory exit strategy by July 1 2008".
Mr Jarvis said it had taken longer than anticipated to restructure Palandri's existing operations into a more traditional wine company, something it needed to do before listing on the ASX.
The restructure has included restructuring the managed investment businesses into unit trusts.
Mr Jarvis said considerable effort had gone into repositioning the company's wine range to deliver increased sales volumes from 2008 onwards at higher price points with higher margins.
He said the company had continued to expand the reach and its brand with new markets including Eastern Europe delivering results.
Mr Jarvis said it had made substantial investments in WA during the year, which would position the company well in the future as dry conditions in many parts of Australia reduce grape supplies. The company issued a further 24.3 million shares in the year to raise $4.5 million.
Mr Jarvis said he expected wine producers would be able to command price increases in the next few years as widespread drought conditions impact large parts of the industry.|
|Palandri doubles exports to Sweden Winestate Magazine 11:30 18-Sep-07|
|Palandri Wine For Russian Market (26th Sept 2007)
Innovative new wine importing venture forms
|Can you post a link Bjorn
Heres some recent news
|Is that historic company talk, or actual new news?|
|ASX listing before year end.|
|No specific news just showing the UK website.|
In Costa Rica at the moment, what is the news on PRI? I can't immediately find any news from your link.
We are currently working on listing on the ASX in 2007, once we have more information regarding final dates we will notify all the investors.
Please contact me with any further queries.
Palandri Investment Centre|
|Apologies Tilt as only just looked back in
|Mine also in a Nominee account. What did the later say please.
Heres some news from the website.
7 February 2007
NON-FORESTRY MANAGED INVESTMENT SCHEMES
On 6 February 2007 the Minister for Revenue, Peter Dutton, announced the Federal Government's position in relation to non-forestry Managed Investment Schemes. The Minister announced that the ATO has reconsidered its interpretation of the current tax laws and, as a result, the ATO is preparing a draft Taxation Ruling, which will apply to non-forestry MIS arrangements, entered into after 30 June 2007.
The effect of this change is that investors of non-forestry Managed Investment Schemes (ie. wine grapes, cattle, avocados, and tomatoes etc.) will no longer be able to claim upfront deductions for their contributions on the basis that the investor is "carrying on a business as a primary producer".
Palandri Investment Management, joint Managing Directors, Maria Cheer and Stuart Hillier said, "Our understanding is that this change will not affect existing investors in non-forestry Managed Investment Schemes."
"The pending Taxation Ruling should provide a better understanding of the implications of these changes and we are committed to keeping you abreast of any new information."
"However, our first priority is to seek clarification on the new arrangements. We are at present consulting with industry bodies and colleagues with the view to generate options that we could possibly adopt based on the potential outcome of the ATO ruling. Further we will actively engage with the ATO and the Federal Government to voice our position on these new arrangements."
We have faced significant challenges in our seven-year history and as part of the wine industry have certainly experienced some precarious times. Despite all of this, we have continued to grow and deliver a profit. We have developed a secure platform that operates based on supply and demand forces that will see us grow well into the future.
For more information please contact the Palandri Investment Centre
Phone: 1800 673 505 or 08 9216 7000
Fax: 08 9216 7001
Mine are in nominee, what did the letter say?
|Received a very interesting letter re my PRI shares and look forward to them listing on ASX.|
|LOL what a spread.|
|Their net worth just took a hit. Mind you, being sophisticated sorts I'm sure they'll just shrug it off.|
|AFAIK "sophisticated investors" is a widely used term for high net-worth or very high-income individual investors.|