likewise, I'm down $700-800K and seriously disappointed. I can fully understand the desire to clear the decks as far as the balance sheet goes, but given the cash earnings are strong why not pay a 1.2 cents final dividend. OK for David Teoh we gave him $150m in cash, and in return we get no dividend plus are under the strain of the debt raised to pay his cash! Perhaps it suits him for the SP to go down, pocketed $150m and it would now only cost him $60m to buy the balance of the company he does not own - sweet picks up the old SOT business for free and still has a further $90m in his back pocket (or nil if you net off the debt)- thanks for coming! The absence of a dividend is usually seen as a pessimistic outlook on earnings and this does not seem to be the case given their earnings guidance. What will be key going forward is there dividend intentions and this needs to be advised to the market, if they can give us earnings guidance then what stops them from advising us of their intended dividend policy , i.e. give us a range!
SOT Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
