This announcement feels like deja-vu. Back in Oct22 "Capital Management Initiatives" were announced comprising bonus options and a buyback which was never carried out seriously (only 1% of shares bought back in 2 years). And I've got the feeling that the elephant will give birth to a mouse again.
In the bull case scenario where management follow through to convert PMC/PAI to PIXX/PAXX I doubt it'll happen fast enough to compensate for the underperformance.
4 month to carry out the strategic review + 2 month to organise a shareholders vote + 6 month to execute the conversion.
We are probably looking at one year before banking the current 11% discount to NTA. Meanwhile PMC has underperform its benchmark by 15% last year....
This announcement feels like deja-vu. Back in Oct22 "Capital...
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Last
$1.42 |
Change
-0.010(0.70%) |
Mkt cap ! $420.4M | |||
| Open | High | Low | Value | Volume |
| $1.44 | $1.44 | $1.42 | $1.013M | 709.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 70555 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 113711 | 4 |
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| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| PMC (ASX) Chart |