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This initiate will save Harcourts overheads too, so they won't...

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Dillwynia

871 Posts.

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18/03/21

12:19

Post #: 51863283
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Originally posted by madamswer: ↑

"100% agree though, its a 'trust us' story and so far they are delivering on commitments to consolidate the industry. Baby steps."

Trouble is, I don't yet know what the cost of this latest set of steps is.

For example, if this transaction ends up involving the issue of 1 or 2 million PTG shares, then I would probably be quite receptive to it. But if they need to issue, say, 20 or 25 million shares to do the deal then that would probably bring the entire investment thesis into question.

So, like it so often is, the devil will be in the detail.

.

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This initiate will save Harcourts overheads too, so they won't demand in the 20m range.

Joseph Hanna is steering this company remarkably. More deals, more clients, more earnings, higher SP.

PTG Price at posting: 47.5¢ Sentiment: Buy Disclosure: Held
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