Longreach, at Mayfield's current share price, Genius's shareholding is worth $17.5m. Why would they trash their investment for the sake of offloading a few dud centres? Why would you want to see their centres sold to competitors instead when it is so difficult for Mayfield to acquire centres in the open market?
What's important is that centres are acquired with appropriate due diligence and independent oversight, which is what the current management have committed to.
MFD Price at posting:
76.5¢ Sentiment: None Disclosure: Held
