Most agree that SXY has been sold off under our feet on the low side, I certainly am one of those who has that feeling. I have been a holder from way back, taken part in SP raisings, however my main profit only comes from additional shares purchased last year, just under $3, if not for this buy I would be in the red??
The issue I have and one that not many of you are talking about. If SXY was such great value and undervalued, well where in the hell are all the other bidders. If it were such great value, well you would think that there would be several bidders queuing up to buy the company. We have had ample time from someone to come along and up the ante, especially with energy prices jumping of late, but alas.... not a murmur!
You have to be kidding to think that ASIC will do something, FIRB already ticked it off, unless we get a new bidder or a NO vote to the takeover, the deal is done and dusted. If the vote is No, I feel the SP will be back to 3.50
I still hold my shares, will hang on till the final siren, which I believe will be a YES vote and take my $4.60.. SXY/ BOD all very smart and experienced, they will have certainly covered all the bases to ensure they have the YES numbers.
SXY Price at posting:
$4.58 Sentiment: Hold Disclosure: Held
