3 questions lodged at 2025 Tasfoods hybrid EGM

Q1. I'm a relatively new shareholder in Tasfoods. The latest accounts show we have notched up $64.6m in accumulated losses. Net assets are down to $3.56m and the market cap is only $2.62m. This meeting is to approve a dairy sale because we appear to be under financial pressure and running a managed break up and wind down of the business. Could the chair, CEO or anyone with a knowledge of the corporate history please summary where all the money went and what, with the benefit of hindsight, we should have done differently to deliver better outcomes for long term shareholders?

Answer: Hopeless question censorship from Tasfoods. Lodged this question 20 minutes before kick off under the "general questions" drop down box and then they removed the general questions drop down box and worked up a script for the chair saying that only questions relevant to the two specific items of business would be asked. But this was relevant as it goes to what triggered the orderly liquidation which was being voted on. They were clearly too embarrassed to explain who got the $64 million that has been lost, causing the current fire sale of its poultry and dairy assets. Watch video of chair Ben Swain prematurely closing the meeting more than 4 minutes before the poll was due to close when he should have been dealing with this question. Just hopeless.

Q2. Will a full copy of the AGM webcast be made available on the company's website for the benefit of the hundreds of shareholders unable to tune in live who might be interested in listening to the debate about the sale of our dairy business?

Answer: Based on the censorship displayed above, very much doubt Tasfoods will publish a copy of the webcast of this 15 minute virtual EGM to approve the sale of its dairy business, as promised in this answer from the question wrangler and chair Ben Swain. Watch video of exchange via Twitter.

Q3. If a sale agreement is reached with the Nichols Poultry business, as per this morning's ASX announcement, will it also need shareholder approval at an EGM? Why weren't you able to sell the dairy operations without shareholder approval and has there been any material opposition to this proposal on the proxy votes?

Answer: Chair Ben Swain confirmed any poultry sale will also require shareholder approval and said there was no opposition on the proxies. This is an orderly liquidation after $64m was blown up. Watch video of exchange via Twitter.

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