Update re sale of property on asx
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
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Update re sale of property on asx
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Studio leaseback provisions will be a stop-gap measure...looks to me like Sky are planning on moving HQ and won't need a sprawling estate.
Selling the entire land package removes the cross-lease problem and will maximise the amount of money they can get.
Will be interesting to see if there is any media speculation as to what the entire package would likely be worth.
[QUOTE=Ogg;898959]I upped my order to asking price.
Always seem to be buying Ogg. Do you have a endless amount of money or do you have other shares your selling to buy more sky
Out of interest if you are buying what are you sitting at now holding wise. Must be about to disclose your a 5% holder 😂
I wish I'd sold out out sooner luckily I didn't sell now. Anyway onwards and upwards. Warehouse is proving much more lucrative
These were my best sells
https://imgur.com/a/CMIdEuF
Between the campus sale and anticipated cash balance at the FY results, Sky should soon have ~$150M in the bank I reckon.
Ideally they would use that money to acquire something complimentary to their core business to ensure the company continues meaningful growth…
But if that is not possible, they could take $100M of it for a buyback program and still have plenty of cash in the bank for growth/enhance initiatives (plus untapped $200M debt facility).
At the current SP they could buy back ~36% of the shares.
SP would lift somewhat if management started buying back stock…but even if prices inflate they could still easily buy 30% back.
Long term shareholders then benefit in future years with fatter dividends.
Hold up - so sky are selling studio one now as well? Wow. Full on continuation of asset liquidations continues. The amount of cash to be sitting on the books soon is significant (approaching 1/3 of current market cap post sale potentially). Also will make a debt-fueled management buyout easier if it’s on the cards.
I think that if there is one thing we know for sure by now it’s that management have no interest whatsoever owning any of Sky!
The entire property will probably go for around $90M. They will soon have $150M+ of cash sitting in the bank.
What are managements plans for the cash? Ideally it could be deployed for meaningful growth.
Let’s see. Only two weeks until the results now.