a question of value (or is it)?, page-6

Long time holder - AIO still trades at a discount due to the mistakes of the past. High debt and weak management really killed confidence in the company. It was a real poster child for the GFC and the share price reflected that.

Over the last two years the boards been overhauled and refocused on strategy. With the opportunity to secure more coal contracts and a possible demerger of Patrick there's some options there.

I also think the share consolidation is great - it will further distance itself from the mistakes of the past. The share price has been virtually stagnant.