On 30-Jun-2008, Credit Corp Group had a market cap of $34m, share price of $0.75, and had purchased $77m of Aus/NZ PDLs for the year.
In the past decade the company has:
* Maintained the position as the largest PDL purchaser in Aus/NZ and will purchase ~$140m this year.
* Built a consumer lending business with a loan book of $172m from scratch. All internally funded.
* Built a US debt purchasing business which now does $55m of PDL purchasing per year, from scratch. All internally funded.
* Suspended the dividend reinvestment plan in 2010-2011.
* Paid out $3.21 per share worth of fully franked dividends in that period.
* Grown the number of shares from 43.8m to 47.4m at an annual rate of 0.88% pa.
* Not completed a single capital raising. No capital raising in over 10 years.
This is the lousiest fraud I've ever seen.
CCP Price at posting:
$18.84 Sentiment: None Disclosure: Held
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