Ann: TerraCom Annual General Meeting Presentation, page-3

A little bit of vagueness in the comment, do they have a willing buyer (if they do, i would assume a ASX announcement would have been needed - not just in AGM presentation), or do the just have a for sale sign out the front.


I do find them trying to off load RSA a little odd. They only bought it 3.5 years ago, in what some would consider a fairly hostile takeover, for AU$100 million and at a bargain price at that - booking a $10 million gain (not common in business combinations).

RSA operations is making profits and providing cash to TER via dividends. Perhaps they bought something they really didn't want in the end or since they have lost control, don't really want it anymore. Or perhaps, just couldn't be bothered with RSA anymore and would prefer the cash to dividends or think they could use the cash for another investment which they will buy and sell 3 years later. Let's remember, Ransley was heavily involved with TER (director of UNV) during this takeover.