I was surprised to see Dingleton listed on the AFR overpaid CEO article today (CEOs take record hit on bonuses). I haven't been much of a fan of him since his time in the Nickel industry prior to the hire with ASB. However I personally suspected the company was large enough to run itself without much need for a CEO to influence things.
That being said their Feb earnings were very positive and the ASIC is now well resolved. They need more contracts for sure, I'm hoping to see growing announcement here. 4% dividend helps keep things positive.
IMHO- ... Could the subs get moved back to Australia ... that would be a huge trigger for ASB. Hopefully that is the case.
Personally I hold ASB as a war hedge. But had expected better performance in the near term, especially given the amount of government contracts in place. I'm still holding expecting as the company is now undervalued but the market.
ASB Price at posting:
$2.05 Sentiment: Hold Disclosure: Held
