Yes, the market is wondering how they r going to blow that money away because a basic calculation means that market perception of managerial capability is not good as the amount of cash and cash earnings should give a higher SP on basic biopharma metrics? So u have correctly pointed out a discount on the scrip valuation to the cash and earnings IMHO.
Perhaps SRX will use the money on more of the shenanigans of last week IMHO where the press, the blogs and the general SRX agenda/ atmosphere got adverse and then IMHO led to the SP tanking?
Or other posters have identified a trend which is the market is not happy of the schenanigans of the SRX AGM and the governance, risk and compliance environment?
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