I agree. TRG has been oversold. This week they should announce a final dividend between 30 and 35cps. In the announcement regarding the sale of RARE, the company advised that there may be some capital management to come as well (capital return to shareholders?).
The sale of RARE will provide $112m immediately to Aurora of which TRG is entitled to 64%. This equates $3.65/ TRG share. And then there is still another $90m still to come (another $2.10/TRG share). So this sale could return close to $6 cash/TRG share and the shares are trading at around $7.50 (but I presume it will be watered down to some extent by capital gains/company tax). Surely the residue of the business has got to be worth substantially more than $2-$3 per share.
The Indian solar panel proposal sounds pretty complex and I have yet to get my head around it, but the TRG/NL executives are very sharp. I suspect this might be a good long term deal.
Anyway I look forward to a positive report this week and a re-rating of the shares.
Regards Westwind
Ann: FUM as at 30 Jun 2015, page-13
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Last
$10.66 |
Change
-0.050(0.47%) |
Mkt cap ! $556.4M | |||
| Open | High | Low | Value | Volume |
| $10.76 | $10.83 | $10.60 | $1.033M | 96.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $10.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.85 | 500 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| PAC (ASX) Chart |