@Just_a_guy
I believe we overpaid for this property. After fees and stamp duty, the total purchase price will be $23.35m.
Since this is the last related party transaction between the MD and NCK and debt is currently cheap, I will reluctantly accept it.
I agree that it is in NCK's interests to secure this property as the Auburn store is one of the top performing stores.
I also note that Scali Consolidated (SC) tried to sell this property last year but the they couldn't reach an agreement with the Independent Board Committee (IBC). From this, I assumed that the previous asking price was even higher.
Since last year, SC had managed to secure a new tenant for the first floor and they had also renovated the external of the property.
I have to admit that this transaction makes my antenna to stand up even higher to detect any further worsening in NCK's quality as a company.
Ann: Nick Scali Ltd - Independent Expert Report, page-3
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Last
$14.95 |
Change
0.440(3.03%) |
Mkt cap ! $1.274B | |||
| Open | High | Low | Value | Volume |
| $14.70 | $15.02 | $14.67 | $9.429M | 633.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8356 | $14.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.02 | 480 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| NCK (ASX) Chart |