A director purchased shares on September 8th, so a near-term cap raise seems unlikely (but not impossible, of course).
The share price has taken another leg down very recently. At current valuations, GDI could sell Westralia Square I at, say, a 10% discount to the most recent independent valuation ($371m*.9 = $334m) and buy the entire/remaining company on market (at current trading price of 60c per share).
GDI's portion of the Autoleague portfolio is worth $137m, and I suspect GDI would get that price if they put it on the market (CPI + 1.0% rental escalations).
With circa $137m, they could pay down $50m debt (reduce debt by 15%) and activate a pretty impactful on-market buy-back with the rest. The current market cap is only $321m.
Based on the earnings call in August, I'd say the market is disappointed that management is pursuing investment opportunities (mining accommodation joint venture), rather than activating an on-market buy-back.
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- Ann: Annual results announcement
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Ann: Annual results announcement, page-6
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Last
67.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $360.0M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22 | 67.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
67.0¢ | 14 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 43504 | 0.665 |
3 | 70016 | 0.660 |
1 | 20000 | 0.655 |
3 | 187674 | 0.650 |
5 | 126500 | 0.645 |
Price($) | Vol. | No. |
---|---|---|
0.675 | 49914 | 5 |
0.680 | 114405 | 4 |
0.685 | 85000 | 4 |
0.690 | 37500 | 3 |
0.695 | 105500 | 3 |
Last trade - 09.45am 28/07/2025 (20 minute delay) ? |
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