Ann: Change in Substantial Holding - Osmium - amended, page-2

After correction, it means that they paid around 70 c (AUD) per share for the 2.07 m shares they bought.
Looks much more logical looking at the price during that period and the price Forager sold its shares.

Really curious to know when they are going to stop buying NZME shares.
Honestly, looking at the valuation after the company just reported, I share their conviction.
I guess there is an opportunity as there is still a major gap between the market perception for this kind of media stock and the reality of the company's results/strategy.

There are probably 2 ways at looking at this stock :
- most conservative : that they are still very cyclical and they benefit from a recovery of the ad market (which has just begun),
- more bullish : that they have found a way to be much less cyclical and face the challenges of the social media, thanks to their focus on subscription and digitalization.
In both cases, the stock continues to look really cheap.
The payment of a large dividend from H2 2021 will be another evidence of the undervaluation.