It is not appropriate to say 15c is cheap because as of now, that would be a fair value.
However, if EBIT we to increase by 15% - 25% over the next 12-18 months, the fair value would increase to 20c PLUS a premium for future sustainable earnings and the possibility of dividends.
Businesses are not static they are fluid. So too are their underlying valuation assumptions.
That said, I am pleased there is movement in the register as it puts management on notice as well RFG's other substantial shareholders.
GLTASH
RFG Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
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