I posted about this elsewhere on the site, but it's hard to find. It was in relation to Ord Minett's downgrading. Here is a copy/paste:

It could be that the initial price was $NZ52m+$6+46m for a total of $NZ104 but they are paying $NZ100 now. That $6m was supposed to be in shares when but I am not sure if that was based on the value of the shares at that time (~$2.20 at the time, but doubled since) or a fixed number of shares in 2019 which would be worth double. I haven't checked the FX rates to see if that's made a difference. So it could be a cheaper price for a reason.

This recent annoncement kind of looks different to what they originally said to the market in 2019 about Mocka, plus that recent announcment was lacking in clarity.

So for me, when companies aren't clear there is a great reason to be suspicious. ADH did not explain why they made the purchase earlier - it's especially strange since they didn't have to pay up sooner. Is it due to the end of the FY? Is it because ADH didn't do as well in the the second half of FY21 (or are seeing a downtrend in recent months) and are looking to prop up profit into next year as soon as possible? Did Ord Minnett short the stock and jawbone it down? Is Ord Minnett really to blame or did another shareholder decide to take profit before then end of the FY? Who knows. Maybe a major shareholder notice in the next few days wil explain.

Can anybody explain to me what's happened with the Mocka aquisition and why it's hit the share price so hard? Having only a small part of my portfolio I haven't been following the business too closely.