RCU TRU

Ann: TRU - Sale of ReCapMIL , page-2

  1. PickEm
    933 Posts.
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    06/06/12
    20:23
    Post #: 10275643
    Another Machiavellian twist with the usual suspects.

    The Trust Company Ltd only paid a "nominal" amount for RECAPMIL back on 31 May 2010 (p27 TRU 2011 Annual Report). It had earnings power so I wondered why that was the case. Perhaps the RE contract didn't have long to run. I now suspect this transfer back was always the intention.

    The T/O offer and now the timing of this repurchase suggest a tree shaking exercise to me.

    All new non-exec directors TBA. Will be interesting to see if they have any pedigree.

    AUD is helping nicely. Reasonably new blog article on
    http://www.iifunds.com.au/bristlemouth/battle-lines-form-rcu
    RCU Price at posting: 46.5¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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