dct, where is Coliseum in this mix? Also, good buying today, not...

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ainsleym

6,191 Posts.

1219

29/08/16

11:39

Post #: 18759999
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Originally posted by dct ↑

The instos are now dominating the top 20 shareholders with a combined 89% of the shares. I see four specialist funds (Sigma Funds Management/First Samuel/Phoenix Portfolios/Endeavor Asset Management) are now also creeping onto the register.

These funds will want more shares so I expect a slow accumulation grind higher over the next 6 months before a big play (like NBL) occurs. PGR has a cash surplus and a $30m bank facility plus $25m working capital facility available for a big play although it is likely they will also issue more shares to improve liquidity when they make a big play - this will be at a much higher SP so the current instos benefit.

Designworks has the potential to be a spin-off listing when it reaches about $200m revenue, currently $100m+, I expect that is probably only 2-3 years from now at its current run rate.

Meanwhile, also being in the top 20 shareholders I will go along for the ride.

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dct, where is Coliseum in this mix?
Also, good buying today, not sure if big boys have digested the results news over the weekend or maybe we are in for another takeover bid by Colisseum as buying depth is building. As I recall the last t/o bid was after results announcement bur pre-divvy ex- date. I'm sort of leaning towards the latter as the results were not unexpected based of the earlier company forecast

PGR Price at posting: 76.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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