Thanks for the reply Boblar. I guess only time will tell! If they can deliver it's a great entry point with two options for upside 1) Multiple re-rate back to market averages and 2) earnings upside from getting those acquisitions producing FCF and cost out program. In my view the upside outweighs the downside (hence the entry into the stock) however I too eagerly await the full year update to see if some of these questions can be answered and the company de-risked. I hope they don't plan to acquire any new businesses but rather they focus on bedding down what they have!
As for a capital raise again their results will tell us if its likely but I am hoping that the recent momentum in product sales continues and generates FCF for debt amort.
I am not that concerned about the court proceedings as its a small part of the overall picture - but it does seem to be an anchor on the stock at the moment... resolution will help
PGC Price at posting:
17.8¢ Sentiment: None Disclosure: Held
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