Angel Seafood Holdings Limited: Information on Change of Director’s Interest

Earlier, Angel Seafood Holdings Limited (ASX:AS1) had come forward and informed the market players about the change of Director’s Interest. Mr. Tim Goldsmith is the Chairman of the company while Mr. Zac Halman happens to be the Chief Executive Officer (or CEO). As per the announcement made, Mr. Michael Richard Porter had acquired 100,000 ordinary shares. The issued release also stated that Mr. Michael Richard Porter happens to have direct as well as indirect holdings in the company. The new shares which have been acquired involve consideration amounting to $13,673. This acquisition (which has been made by Mr. Porter) is done through “On-market trade.”

Not so long ago, Angel Seafood Holdings Limited had issued a release which contained information about the updates of the company. As per the release which was issued, Angel Seafood Holdings Limited had wrapped up the upgradation activities related to the water-based infrastructure. It can hold more than 20 million oysters throughout the water holdings in Cowell, Haslam as well as Smoky Bay. After the acquisition of the prime water leases with regards to the Coffin Bay, the company happens to be in the position to provide more than 9 million oysters per annum to the market from the water holdings which are in Coffin Bay.

With regards to the land-based infrastructure, Angel Seafood Holdings Limited had informed that it had managed to wrap up fit out of the processing facility which is in Coffin Bay. The issued release also stated that Angel Seafood Holdings Limited happens to be on track when it comes to operationally cash flow positive for FY 2019.

Earlier, Angel Seafood Holdings Limited had made an announcement about the appointment of the CFO (or Chief Financial Officer). As per the release issued, the company had placed Mr. Simba Matute on the designation of CFO. The release also stated that Mr. Matute would be handling the financial operations of Angel Seafood Holdings Limited which and would also handle strategic planning as well as budgeting processes. Mr. Matute would also be working with the company’s CEO (or Chief Executive Officer) named Mr. Zac Halman so that the company’s financial performance can be shaped.

We would now look at the views of the management of Angel Seafood Holdings Limited. The company’s CEO reflected favorable views with respect to the new appointment of the Chief Financial Officer. He stated that working with Mr. Matute would support the company in maximising the efficiencies with regards to the operations and they would also be working towards the financial health of Angel Seafood Holdings Limited so that appropriate opportunities can get tapped. Mr. Matute happens to possess a rich amount of experience, and he also has robust financial as well as analytical skills.

Earlier, Angel Seafood Holdings Limited had released presentation which threw light on the company’s business as well as growth drivers. The company had stated that there happens to be substantial benefits related to the economies of scale as and when production increases. The company stated that because of the geographical diversification, the company is less exposed to the risk related to POMS (or Pacific Oyster Mortality Syndrome).

We would now see how Angel Seafood Holdings Limited has performed today and how it has been performing from the last few months. On January 21, 2019, Angel Seafood Holdings Limited ended the session in red as the stock price closed at A$0.125 per share which implies the fall of A$0.005 per share or 3.846%. In the span of previous one month and three months, Angel Seafood Holdings Limited’s stock has delivered the return of -3.70% and -16.13%, respectively.

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