1 00:00:00,000 --> 00:00:02,160 Speaker 1: It wasn't even close. In the end, Alliance shareholder said 2 00:00:02,200 --> 00:00:03,960 Speaker 1: yes to the two hundred and seventy million dollar down 3 00:00:04,040 --> 00:00:06,800 Speaker 1: meets bid eighty seven percent support of the selling of 4 00:00:06,840 --> 00:00:09,160 Speaker 1: the sixty five percent of the company. Jeff Grant, spokesperson 5 00:00:09,160 --> 00:00:10,800 Speaker 1: for the Alliance shareholders, is with us. 6 00:00:10,840 --> 00:00:13,119 Speaker 2: Jeff morning, Good morning, Mike. 7 00:00:13,280 --> 00:00:16,040 Speaker 1: Can't argue with democracy, can you? 8 00:00:16,079 --> 00:00:18,960 Speaker 2: No? And you know the board has to be congratulated 9 00:00:19,040 --> 00:00:22,360 Speaker 2: for getting the deal over eighty seven percent quite a 10 00:00:22,440 --> 00:00:26,400 Speaker 2: high barrier. But that's the last of the meat corporators 11 00:00:26,440 --> 00:00:26,960 Speaker 2: in New Zealand. 12 00:00:27,040 --> 00:00:28,640 Speaker 1: Yeah, I was going to ask about that. Is it 13 00:00:28,680 --> 00:00:30,160 Speaker 1: emotional or is it just life? 14 00:00:32,000 --> 00:00:34,920 Speaker 2: It's just life. But you know, the shareholders of the 15 00:00:35,000 --> 00:00:40,200 Speaker 2: company have effectively watched the directors lose you know, around 16 00:00:40,240 --> 00:00:43,680 Speaker 2: three hundred million dollars over seven years and value for them, 17 00:00:43,760 --> 00:00:46,680 Speaker 2: and so their equity went from seventy to thirty eight percent. 18 00:00:47,159 --> 00:00:49,400 Speaker 2: The company was forced into a position of having to 19 00:00:49,400 --> 00:00:50,320 Speaker 2: find new equity. 20 00:00:50,640 --> 00:00:52,920 Speaker 1: How much of this, for people who haven't followed the story, 21 00:00:52,960 --> 00:00:55,320 Speaker 1: how much of this individual set of circumstances is an 22 00:00:55,360 --> 00:00:59,440 Speaker 1: Alliance story versus the processing of meat story for an industry? 23 00:01:00,960 --> 00:01:02,760 Speaker 2: Our fair bit of it's on a line story. This 24 00:01:02,960 --> 00:01:06,160 Speaker 2: is a this will be a business management school one 25 00:01:06,160 --> 00:01:10,320 Speaker 2: oh one paper on how to destroy values without any 26 00:01:10,400 --> 00:01:12,039 Speaker 2: doubt at all? 27 00:01:13,040 --> 00:01:15,880 Speaker 1: Is it as bad as they made it? The management 28 00:01:15,920 --> 00:01:17,520 Speaker 1: made it out to be. In other words, the banks 29 00:01:17,560 --> 00:01:19,800 Speaker 1: aren't going to play ball. It's too much money, We've 30 00:01:19,800 --> 00:01:21,759 Speaker 1: got no money, we can't afford it, so we need 31 00:01:21,800 --> 00:01:23,080 Speaker 1: to sell. Is it that bad? 32 00:01:24,319 --> 00:01:27,880 Speaker 2: Look? I don't believe the banks would have closed on 33 00:01:27,920 --> 00:01:30,440 Speaker 2: the nineteenth of December. He was going to be a 34 00:01:30,480 --> 00:01:33,200 Speaker 2: receiver six days before Christmas, four and a half thousand 35 00:01:33,319 --> 00:01:36,840 Speaker 2: star the start of the Pete kill. So there was 36 00:01:36,880 --> 00:01:41,080 Speaker 2: a bit of theater in it. I think that the group, 37 00:01:41,120 --> 00:01:43,680 Speaker 2: that our group was able to what I had indicator 38 00:01:43,720 --> 00:01:47,039 Speaker 2: that could raise the capitol. I just think the hour 39 00:01:47,120 --> 00:01:48,960 Speaker 2: run was too short, too late. 40 00:01:49,280 --> 00:01:51,320 Speaker 1: Do you like Dawn Meats? If you had to sell 41 00:01:51,480 --> 00:01:52,600 Speaker 1: these good people. 42 00:01:54,280 --> 00:01:55,920 Speaker 2: Mike, if you were to look around the world and 43 00:01:55,960 --> 00:01:58,400 Speaker 2: say what are the four or five companies that you 44 00:01:58,520 --> 00:02:01,920 Speaker 2: want to be associated all meet would definitely be one. 45 00:02:01,880 --> 00:02:03,400 Speaker 1: And are they good people or are they going to 46 00:02:03,400 --> 00:02:04,040 Speaker 1: strip the place? 47 00:02:06,080 --> 00:02:09,480 Speaker 2: The Lord only knows the reality is that it will 48 00:02:09,600 --> 00:02:13,119 Speaker 2: depend on the stock flow, So how much that I'll 49 00:02:13,120 --> 00:02:16,400 Speaker 2: actually be able to get this company was losing stock 50 00:02:17,120 --> 00:02:20,600 Speaker 2: not just on the basis of market share, but also 51 00:02:20,760 --> 00:02:23,240 Speaker 2: just because of the way they were operating the business. 52 00:02:23,600 --> 00:02:26,519 Speaker 2: And so I think it'll be a bit of a 53 00:02:26,560 --> 00:02:29,160 Speaker 2: test to see. We'll know in about twelve months what 54 00:02:29,240 --> 00:02:30,120 Speaker 2: their intentions are. 55 00:02:30,280 --> 00:02:32,440 Speaker 1: Well, get you back on then, Jeff, appreciate your insight. 56 00:02:32,639 --> 00:02:35,680 Speaker 1: Jeff Grant, who's the spokesperson for the Alliance shareholders. For 57 00:02:35,760 --> 00:02:39,160 Speaker 1: more from the Mic Asking Breakfast, listen live to news talks. 58 00:02:39,160 --> 00:02:42,360 Speaker 1: It'd be from six am weekdays, or follow the podcast 59 00:02:42,400 --> 00:02:43,280 Speaker 1: on iHeartRadio.