ipo was a dump of shares for him to book profits and keep something for his retirement. cash on books saved them during the downturn which was well managed by him. cash has increased from 15mil to 40mil and sp from 20c to now 47c. hence more cash on books safer it gets. higher dividend payout n buy back should keep this sp stable while he finds growth or diversifies. i doubt it ever reaches ipo price in his lifetime
Ann: Appointment of John McGrath as Managing Director & CEO, page-9
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