And as for dividends, do you really think any current DCG holders were expecting dividends (excluding the new prefs) anytime soon?
My modest holding has an average purchase price in the low teens so participation effectively means doubling down on DCG at a time when there are plenty of other opportunities emerging.
The call date for the Prefs is 3 years. There are a handful of advantages to the Prefs but are they really that advantageous to command a significant premium or was the 12% (and preferential ranking) simply the minimum necessary to get this away, particularly when you look at the sub-underwriting arrangements.
Bottom line, you reckon the 20c prefs are great value when you could have purchased ordinary shares around 10c this time last year, correct?
For my part I have no wish to commit any further capital to the sector so it's purely a matter of whether I decide to rotate any further SRG into DCG (or not).
DCG Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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