PGH 1.27% 77.5¢ pact group holdings ltd

Ann: Becoming a substantial holder, page-11

  1. 52 Posts.
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    As Giz and richardwth mentioned, the recent notice of the initial substantial holder is a very positive announcement, not just because of the 5% ownership but also due to the parties involved.

    They undoubtedly have good industry knowledge and a long-term history with Pact. They have invested over $6 million since December 20, 2023, and have considerably more exposure through their existing holdings.It is a very positive step in reducing the probability of compulsory acquisition under the current offer.

    Regarding Kiwi17’s reference to leveraging a future offer, I fully agree in terms of leverage, but I believe the stated number still considerably undervalues Pact. It wasn’t all that long ago that RG was accumulating shares in the $2-3+ range, and Pact is arguably in a much better position now in terms of future cash flow.

    The crucial factor will be the figure the two parties, accounting for the 5% ownership, are willing to accept.
 
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