I am writing this to clear up a few previous responses....MYER is a big beast that not many investors/businesses/funds or companies really want atm, including SL's Premier Investments. SL could write off his 100M dollar investment by pushing his own labels through if he gets a seat or two on the board, (Well done GH and GW for reducing the number of seats, that might slow SL down for a while) so I think a take-over is out of the question now. I think he's hoping for someone else to take-over or shake the board up so he can gain control and push his private labels through...3 months and he'd make that 100M investment back..!!
Personally, I have no choice but to stay in until it hits 30c...Then I'm out with a decent return! For others it's not looking pretty...if you bought at the pre-COVID-19. But you may crawl back a few loses..
Current management and chairman are useless like the previous MD...All taking a wild guess how to steer this beast through the changing retail environment..!! Good luck all. I hope this is over soon!
MYR Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
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