Always the champions of spin, and selective reporting. Trumpeting the sale of $3.35 share as a great success as it was a premium to Dec 2023 carrying value. What did they pay for their stake again? $3.60 a share? It deserves a place in the track record, along with GDC.... but somehow I think it won't get a mention, as negative IRR isn't what they want to shine the spotlight on.
HPI had started to turn a corner, recent annoucements on the asset sales and capex program where positive. So I believe a greater premium for the stake would have been warranted.
Ann: Sale of HPI stake, page-6
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