The consolidation isn’t really the problem imo. It’s the failed capital management strategy around which it was wrapped and announced. They foolishly ran with a capital return & divi instead of a share buyback process; then they back-pedaled on the capital return, signalling a return to the bad old days of unreliability; they have not moved swiftly to list the business in the US and announce that immediately following consolidation which would’ve been the ideal time; they have yet to address the insane goodwill figure still on the balance sheet; and now they are understandably drifting without anchor. Consolidation could’ve worked - or at least had minimal downside - had they strategically and swiftly kicked into gear with all the other moving parts.
Ann: Return of Capital - MYX (updated), page-59
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$4.40 |
Change
0.140(3.29%) |
Mkt cap ! $374.3M | |||
| Open | High | Low | Value | Volume |
| $4.25 | $4.43 | $4.25 | $618.9K | 141.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 2957 | $4.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.41 | 968 | 1 |
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