Ann: PET Investor Presentation, page-33

Is the answer to be found in lingering concerns about repatriation of funds from China to Australia?

Due to significant exposure (for me) to the fortunes or otherwise of PET I am loath to raise this issue as I obviously want the SP to recover not stagnate where it is nor slide further south! I still have the same holding now as I did when PET reached $1.60 and I intend to hold, not sell.

Nevertheless I remember a couple of things ...
(1) Concerns/fears about PET’s ability to repatriate funds were reportedly raised in social media when the slide started in earnest about $1.25-$1.30 (and, yes that was also about the time of the director’s sales followed by significant increase in shorting).
(2) A fairly recent planned/announced Capital Return to shareholders was subsequently replaced with an issue of additional shares due to an apparent ‘tax ruling’, if I remember correctly. Had the Capital Return been received then it may have been evidence of repatriated funds (?)

Today’s presentation mentioned the various ways in which PET Australia receives funds from Chinese entities . The presentation also repeated previous statements that ...
”PET Australia has currently elected to retain profits in China to fund its significant growth”.

With today’s suggestions of potential M&A activity, the retention of funds within China may be valid & justified, indeed sensible/prudent ... yet, for some, evidence of repatriation of funds to Australia maybe the business activity they wait to see. Maybe such folk need more than the Company’s reassurance that there is no such issue and therefore no need for the concerns raised many months ago.