Strong open, market happy so far.
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Strong open, market happy so far.
Nothing to be unhappy with in the results.
No mention of takeover or M&A activity. Guess someone will ask that question at the Q&A later.
Doesn't seem great capital management to issue shares at $1.20 then buy them back at $2.60?
Fair comment to question the wisdom of raising a bunch of cash in 2020 only to return a big sum two years later.
But your reasoning around $1.20 vs $2.60 indicates you don't understand the pro-rata mechanism they are using.
They aren't purchasing any shares at all so the $2.60 is irrlevant.
They are returning $70M and will CANCEL some shares in the process (probably 1 in 10).
There is a big difference between that and what you are trying to get at.
Should be into $3 range very soon...some nice commentary from Sophie on the investor conf call.
Big money chasing this up, not retail.
Looking back, some impeccable timing on sale of property. If they've missed that window, it would've been disastrous given how the property market has nosedived this year.
Gotta give that to Management and Board.
Yep full credit to Sophie. Finally someone seems to be steering this board right (acknowledged she is CEO and not chairperson).