An interesting problem. I had sold down parcels bought at 5.13 and 4.13 for about break-even, anticipating further weakness, say to between 2.00 and 3.00, keeping a parcel at 4.01. Just as well I did hold some.
Now we have a takeover offer at 5.80 and a CR at 4.20. SHV is trading at ~5.00, so holders have every incentive to take up the CR - some are selling down to raise the cash, others just playing the arbitrage. There is money to be made.
I think the SPP will be very well supported by little shareholders - well beyond the $20m projected.
My gratuitous advice to SHV: don't scale back eager holders and return the excess over-subscription, please. I think the growth choice (no pun intended) is to plant more almond trees.
The Canaccord broker report (thanks inchiquin) values plantations at $17 to $30,000 an acre. An extra $10m would fund at least an additional 333 acres at $30k per ac in June 18 - probably more. If some kind soul has a better estimate of plantation costs please share.
I want to see an heavy planting program to grow the business. Yes, it is a looong 7 years until they mature, but that barrier stands before all almond growers. The grower who plants aggressively secures their future and frightens their rivals. I appreciate the buying of existing plantations is another way to grow. I want to SHV to pursue both, as they have done with considerable success.
Ash
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Last
$3.94 |
Change
-0.040(1.01%) |
Mkt cap ! $476.9M |
Open | High | Low | Value | Volume |
$3.95 | $4.04 | $3.91 | $1.146M | 288.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 5954 | $3.90 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.96 | 1484 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 150 | 3.900 |
1 | 78 | 3.800 |
1 | 266 | 3.750 |
1 | 300 | 3.700 |
1 | 3000 | 3.650 |
Price($) | Vol. | No. |
---|---|---|
3.970 | 2000 | 1 |
4.040 | 2170 | 2 |
4.050 | 7500 | 1 |
4.090 | 2740 | 2 |
4.100 | 2608 | 2 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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