Hi @bobbyben
I think PAC will return capital to shareholders via buy backs now. This will be the most efficient method moving forward, unless the business can generate franking credits.
Don’t believe there is appetite to purchase additional boutiques. They no longer have management that have skill set to invest in boutiques like Paul Greenwood.
The other positive of selling boutiques is that operating costs will decrease due to lower management fee - GQG are currently managing boutique investment on PAC’s behalf for 0.75% fee based on fair value.
I did miss the provision to buy remainder of business in future for Janus - if they pay earn out provision then sale of remaining business is practically guaranteed.
This type of provision should also be in the Pennybacker sale too.
FYI - I hope the markets go up from here. I am investing a lot in the US now. PAC has helped me learn more of the dynamics over there.
Ann: Sale of Interest in Victory Park Capital Management, page-6
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Last
$10.66 |
Change
-0.050(0.47%) |
Mkt cap ! $556.4M | |||
| Open | High | Low | Value | Volume |
| $10.76 | $10.83 | $10.60 | $1.033M | 96.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $10.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.85 | 500 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| PAC (ASX) Chart |