Ann: RPM undertakes $4m Capital Raising, page-19

Hello. I can only speculate the reasons for the share price decline.

1. Limited profit growth.

2. No dividends

3. Issue of shares for acquisitions causing negligible EPS growth.

4. Issue of shares for acquisitions causing continuous selling of shares.

5. Open knowledge of the need to repay the convertible note.

The point i am making is companies such as RPM can only be attractive by paying dividends because the potential for growth is limited. Even if RPM had no debt, it would still need to pay dividends to be attractive.