Ann: FY23 Half Year Results Investor Presentation, page-22

I’m still watching with interest, although there are some potential bear actions to be wary of.

First is to do with the delay in receiving litigation funding. Has it been ascertained as to why this is? If not, it’s indicative of potential conflict. At least it is only funding on contingency in that if the funder cops out and Shine carries the debit they will, hoping a successful result, get their money back plus profit and the profit the funder would’ve taken.

Second is a SH Class action being lodged- remembering the comment made a few weeks ago that other firms were waiting for a significant price drop before launching, well, that has now occurred, so who knows what MB or someone else might come out with in the next few weeks.

Third is another Michael Pest article that alleges further dodgy dealings. From time to time these things spark things like ASIC audits etc, so you never like them unless you’re 100% sure they’re barking up the wrong tree.

If those things are put to bed and the FY is as guided, it does seem good buying at current levels.