Ann: SWM Acquisition of Prime Media, page-21

No doubt that SWM is now performing well and adding additional value through this deal, but it remains a stock that cannot be invested into by many institutions whilst it pays no dividends and is outside of the ASX300.

The key to price movement from here will firstly be the re-introduction of a dividend (possibly announced at the AGM?). If that happens, it should to instigate a re-rate of the SP to a level where it starts to come onto the investment radars of more institutional investors. The next trick is to see a share price level that is nudging a re-entry back into the ASX300 - opening this up to insto demand (particularly index funds).