Firstly, SL would struggle to justify taking a now $46.5m loss to its PMV shareholders I would think?
.... and there are certain rules around a SH dumping their
entire holding 'on market' all at once so that isn't going to happen unless he was to make arrangements through someone like CS to divest PMV of all Myer shares ... by doing the latter it would open up a potential suitor being able to buy a 10.8% shareholding in Myer without attempting to accumulate on market and subsequently spiking share price ...... IMO he ain't going to do that all while taking a huge loss - just sayin'
Anyway that said ... Myer is flat out everywhere I go .. Bourke St, Chadstone (even late at night) etc etc ... add to that Australia Post handled a record 2.6 million parcels on Monday alone so let's hope that Myer's online business is pumping it through also
(I am not aware that Amazon use Australia Post - it is my understanding that they have an arrangement with a logistics group so none of those items can be attributed to their sales figures) ..... all in all time will tell and I recommend reading
@ChippyDude 's post re: rights issue as it outlines options etc that may or may not be in play and most importantly as he states
"Just because a CEO got advice from a Broker, doesn't mean he will fall for it."
Off to sunny New Zealand until mid January so keep Myer pumping while I am away ...LOL ... and let's hope the sales figures are massive from the additional weekend of trade pre-xmas!!!
Have a great Christmas and safe New Year Myer shareholders
(20min delay)