Justdigit, I don't always agree with your observations about HAV but in this case I think you're dead on the money. I think us shareholders have to be realistic about our expectations. Before this North Portia restructured deal was announced there was an abundance of comments on this forum around how HAV was in a weak negotiating position with SIMEC because of the Investec loan and lack of cash in the bank. I think the timing of the revised divestment terms isn't a coincident. They've freed up some immediate cash and can now go to the negotiating table with a little bit more confidence and patience, which should resultantly end in a better deal for HAV.
The directors can't make magic out of thin air. They're prioritising what they think will be the best outcome for HAV. Time will tell whether or not they're successful.
HAV Price at posting:
16.0¢ Sentiment: None Disclosure: Held
(20min delay)