Succession - Why 10c?
PRT is now the proud owner of 44% (as expected)
Doubt they will do a takeover, but, they may want to increase to 50% so they can consolidate the earnings as part of their P&L - that means that under "creep" provisions of 3% per annum, they could reach this in 18months.
I would think it is likely that they will want to do this, as 44% gives them no P&L benefit, only balance sheet - and as they are a public company themselves, being able to report DES profits (now that debt is gone) will be a good thing for them.
So, its in everyones interest now to get that SP back up again - and the positive thing is that earnings are up, BYI is gone (so we know there wont be a cap raise there), debt is reduced, and PRT are backing this.
All positives towards an increasing SP - with or without Dom and Choiselat's outcomes.
However, from what I understand - Choiselat and Dom's positions are fundamentally different- Choiselat **may** have a case, not so sure that Dom has or is claiming one.
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meanwhile back at the ranch, page-12
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