AJL
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11.1% 1.0¢ aj lucas group limited

Kero is not interested in fixing the capital structure via a...

  1. SP007
    1,113 Posts.
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    23/02/17
    23:21
    Post #: 22861925
    Kero is not interested in fixing the capital structure via a spinoff. I guess that is the whole issue. Why arent the basic strategies to fix this mess being implemented. They are a private equity investor with board seats on both AJL and Cuadrilla - its not like they haven't thought this through.

    The only possible way that these loans can make sense is if we expect a 15%+ ROC driven by a cyclical turnaround in the operating business. And how can anyone bet on that? If there is a thesis around that, somebody please explain. Otherwise it just looks like a money pit that will kill us while Cuadrilla falls into the hands of K.
    AJL Price at posting: 34.5¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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