...those comments further substantiate the reference to "capital management initiatives" alluded to by KAR yesterday and largely overlooked since:
US$600mm + A$200-300mm Brazil farm-in = A$3.30-$3.70 per share cash (or say A$2.80-3.20 after subtracting H1, 2015 opex of circa US$120mm).
Simplified asset base, open register and subdued share price......guessing one would not want $3+ cash per share sitting on the balance sheet for obvious reasons. DYOR IMHO.
bloomberg part 2, page-2
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