If I had to rate this acquisition out of 10 it would get an 8. I have no issue at the performance share (tranches), it’s setting an expectation of a results driven organisation. The relatively small Cap Raise @ 2c could have been pushed to 3c a small premium and that would have resulted in a 10/10 result. Considering how many nervous nellies there were casting doubts on this deal and even some long termers were wavering in their support. An assumption can be made that there was always going to be 150 – 250 million shares offered up immediately on the SELL regardless of what terms and conditions were announced today. By the end of today’s trade SRT would trade through half of that figure, there are buyers who are setting themselves for the next push up. I would guess that we have had at least $500million shares exchanged between 2.2 & 2.9c that is a healthy cleansing of the share register. There will definitely be further news flow up until mid-March and as this current news is digested by the wider market, I am definitely LONG on SRT. Congratulations to those who stuck it out and now know exactly what they have invested in and chose correctly. Backing in strong management in these difficult times in the equities market is a must, we have a leader in MW who is repaying our blind faith. Have a great day all, onwards and upwards, cheers.
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