nalexYou forgot to mention that aegis still have a valuation of...

nalex

You forgot to mention that aegis still have a valuation of over 100c on the stock. The 27c price only relates to their 12 month target in light of market dislocation.

Some excerpts, courtesy of my broker:

"At the FY08 result in August, BBI gave FY09 distribution guidance of 10.0cps. While we do not believe the company will be unable to meet this guidance, given the current environment, perception of risk and the market not rewarding BBI for its yield, we see no reason for the company to pay it. We believe the company would be better off preserving the capital and therefore we review our forecasts".

"To account for the pending asset sales and low earnings visibility, uncertainty with the distribution and current tight credit markets, we insert an analyst discount into our 12-month price target, which reduces it from $1.07 to $0.27".

"BBI’s assets are quality and the security price does not represent its fundamental valuation".