So who else took the opportunity of the sp drop to pick up a few more shares?
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So who else took the opportunity of the sp drop to pick up a few more shares?
Great news.
Genuinely surprised
Can you explain your reasoning here?
Good to see this deal ended and happy to pick up more shares at what should prove to be a great price. I am of the view that the board will initiate a buyback imminently to take advantage of the low price and work towards restoring shareholder goodwill. The fact they said we would be updated "no later than" the full year results reinforces my view.
Copy post from HC, Just be thankful the BOD saw reason and ditched the imponderable notion of acquiring an indebted dog, unrelated or EPS accretive to Sky's core business. Pity they even considered it IMO and got caught out by the media for not letting shareholders know. I fear that will be the lingering afterthought here, as to whether Sky BOD and management really deserve our trust, and money, to keep on strategy and be transparent with shareholders. I give them the benefit of the doubt this time, they screwed up, got caught out, but listened to shareholders and dumped this stupid idea before it turned into a complete disaster. Write that up in the 'Lessons Learned' register and we'll be all good going forwards.
I think you are very generous and gracious if you think she is that cunning and manipulative of the BOD, and we will never know, but if it was that, well ... good on her. At the end of the day, which has now ended, this ridiculous foray has been quashed and they have publicly announced a return to sanity and strategy - buy backs and profit distribution, organically growing the business. The turnaround that we all bought into and is working. It's only the absence of a promise to return to shareholder transparency that imo the jury will be still out on.
I have put my total holding up for sale at $2.69. The $2.70 spot was taken. Will show up first thing in the morning.
Some people can't see the wood for the trees. This whole thing happened within a global, not just local, market rout of historic proportions, the damage to SP has been relatively minor imo because most people thought it was BS and the BOD have now agreed it is BS. Would be silly now to bail out and not partake in the SP buyback and the profit distributions, even if it dampening the market SP enthusiasm for capital appreciation in the meantime.
Might even be a time to accumulate now that the BOD have capitulated and reset on core strategy of organic growth, share buybacks and profit distributions.
Equity investing is a lifelong learning curve, but it pays to bank the lessons and withdraw those deposits when the time comes around to leveraging downturns, whether inflicted by stupid company decisions or by macro market events.
But I'm not talking for traders, this is about long term success. You make your choices and back them until they are unbackable, then make other choices. SKT have screwed up, but it's immaterial now as they've admitted that and we can move on.
Short termers who focus only on the SP will have other views, that's their prerogative.
Given the state of the markets will be very surprised if there is a huge uplift in share price. On another note tried to ring them today twice. Wait time was 40 minutes. Hope it is because of unprecedented demand for upgrades or broadband connections.