I have trouble understanding the sell down, unless there is a negative surprise with the results, but a profit warning should have been issued by now.
The presentation nothing new the increase in scope already mentioned awhile. In general the company metrics are reasonable. The only issue i see its the equity issue from Quantum Deal , Shares on issue have all most doubled and the goodwill is high resulting in a poor return on equity and the book value being higher than the share price.
So this overhang maybe causing the high level of maybe tax loss selling, unless there is a left field out there.
Good luck, its at least 2 year wait for the results to show the growth trend in Asia.
PGC Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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