@ caketin If you use T/A for a leaky situation. I use...

@ caketin

If you use T/A for a leaky situation. I use announcements and reading between the lines as well.
When the previous CEO "shifted " himself to another boat and sold many of his shares on the market( a few years back )that was my big sign. regardless of how good some investors thought he was in M&A, and in running it. He had fairly little skin in the game.

PGC mantra of Using CR for growth through rapid acquisitions. you win some and you see the growth and then becoming hungry for more Mergers and the game is on for accelerated growth. and you become blinded because you are using shareholders funds. and BOOM you realise something is gone off the track and you move on to another company.

meanwhile, PGC chairman S Tanner is busy experimenting with another healthcare company ZNT with similar growth pattern through M&A. that little venture is performing much better than PGC but is undervalued by the market and guess what happens next.
you guessed it is a T/O by a private firm with the chairman and another director been part of that board.
Well, at least they knew where to invest their money .

I bought PGC shares around 2014 and had few DIV , saw the SP rise to 95c and then the decline.... at some point, I have started trading PGC In my SMSF. once i hv realised the story of ZNT and how undervalued they were I bailed out of PGC just to be lucky and get the 40% rise in share price on ZNT T/O offer.

mate, lots of things are happening behind the scenes that are motivated by greed, and other "Nobel" human qualities. the last thing on my mind is to blame the new CEO as IMO he was recruited to deal with the mess left behind ( of overexcited growth by acquisition) and is instructed to do it in an obscured and blurred manner.

I still have some old purchased shares that can wait for another two years or whatever it may take to turn things around. lots of Debt on the balance sheet to deal with and definitely no Div in the near future.

We all have learned something from this journey with PGC.