$120m = EBITDA multiple of 50 times.
$30m cash = EBITDA multiple of 12.5 times.
TASK shareholders received a very nice early Christmas gift from Plexure.
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Plexure must have had a good idea that things were turning to custard at the time of the capital raising. I have big questions about the integrity of their offering and the supporting documentation. I have zero faith in the board.
We are on the same page. Chris and Phil Norman were imagining they were going to be the next Xero.I like big ambitions. However, they were expanding before they had the basics right and didn’t have a streamlined sales process.
I think Dan is a much steadier hand and having been involved in building up a business from scratch is going to be more systematic. But sorting out this mess is a different skill set. He will need to step up and it won’t be easy
Share price is dipping to below 40c. Might be a potential discount maybe?
So Craig has been feeding the Ask, still has heaps though some small satisfaction that he’s been unloading into low bids.
Craig is cursing PX1. Obviously he was let spend quality time with family and be CEO of himself (see Linkedin) by Phil.
This bizarre box moving has mopped up 9m shares last few weeks..... someones cunning game plan eh? :confused:
It's all relative. It's a huge 'discount' from $1.20 prior Cap Raise. It's also a good buying opportunity discount from the most recent cap raise. Where the lower end trough forms is really a guess in todays market as traders can swing and influence the SP pretty strongly. Yes it may well be 0.40 cents finds a support level. Where ever the trough forms and support kicks in will likely see a 20% bounce press soon to follow as bargain hunters realise the run around and jump back in. Would likely push SP back up to 0.60 which is the price Plexure assigned Task share as part of the deal. When will this happen, anyones guess really. I suspect either of 2 scenarios. 1 this happens when Task starts making more positive moves in restructuring the company and they can progress with their customers. Or 2 when the market/traders feel a bottom has formed and jump back in to catch the upswing. For those that have acquired shares at an SP considerably more than what it currently is, it would be better to wait for the rehearsal and SP to head north of 0.60 rather than sell for a loss. Sometimes a steady hand can lead to better outcomes rather than fear pushing sell orders and driving SP lower.
Disclaimer holding for the reversal, buying on the dips, topping up at these levels, sub 0.40 definitely a buying opportunity especially if willing to sit and wait 6-12 months to give Task benefits materialise. Task won't be happy to see their shares which were factored in at 0.60 being valued at 0.45 today. They will want to get things rolling and make some positive announcements within the next coming months to turn that around.
Whats the old saying, buy after bad news when fear has SP low, Sell after good news when the ship is steaming ahead. Those traders that seem to do well have the timing right.