what pbt should do?

It is quite ridiculous really for a company to be holding so much cash and just be content to let it sit in a term deposit generating 5.5% return per year. Thats because shareholders can do the same thing! Stocks are meant to generate a higher return on investment than the risk free rate. If they cant, they should return the cash to shareholders.

It would be in PBT's best interests to return some of that to shareholders by means of a special dividend or look to make an external acquisition that will be profitable for them.

Holding $27m cash v a market cap of $19m is crazy. If PBT management are smart they can easily get the share price back to levels it was a few months back.

Cheers