Ann: AVA to Divest Services Division, page-38

This is just a bad decision by the company to sell its Services Division, and lose 52% of its revenue and 31% of its EBITDA in one go. I can just imagine what the histograms of revenue and earnings are now going to look like in the next couple of quarterly reports. They will all be heading downwards. I'm looking for a company that wants to grow. Maybe if they'd announced an new acquisition, to become a fourth arm to the company, we could expect a positive reaction by the market on the prospect of higher revenues/earnings. The sell price of SD is actually quite good at $63m, but this gets reduced to $42m after adjustments and management bonuses/incentives. It seems like shareholders won't get much value out of this at all. No, I don't want a one-off special dividend in lieu of selling half the business. I just want a growing, viable business. I have lost confidence in management here and have sold all my shares in AVA today. The "risk" part in AVA Risk has become too high.

All IMHO, DYOR