Australia's largest stock trading and investment forum Australia's #1 stock forum

CIM

Click for more information

0.00%

$22.00 cimic group limited

They are really on the hook after the AGM update if something...

First 25 Last

Share
Profile

Follow
convexity

10,143 Posts.

1367

17/07/21

14:23

Post #: 54572676
Share
Originally posted by ValueWorx63: ↑

Their interim report will be telling for sure ... let's see whether they have once again kept any nasty little surprises hidden to completely destroy any semblance of faith in the CIMIC Board and Executive, with the goal being to have the last of the retail faithful finally give up and sell out so the major shareholders (Hochtief/ACS) can compulsorily acquire the company. If that happens then I want to see what ASIC's response is, or are they all working from home playing Solitaire, as they don't seem to have done a great deal so far to question this company's falling SP when others in the market are recovering and CIMIC appears to have a healthy amount of WIH and cash (or reduced debt) from the proceeds of the Theiss sale?

Based on the low trading volume, it looks as though the remaining faithful are hanging in there (kudos to us) and only those that are finally giving in are selling to what may be a broker, or similar in disguise, mopping up everything that comes up for sale (on behalf of Hochtief/ACS). This is the claytons share buy back (the one you have when you're not having one) and it's not to the benefit of all shareholders. Maybe the buyers are other hopefuls that are betting on a turnaround .. or is that just me being one of those hopefuls ;-)

This company should be roaring by now, and if the CIMIC CEO produces a depressing interim report then the whole lot of them (Board and Exec) are a complete disgrace, but no doubt are focused on the incentive that must be on offer to them to drive this company to private ownership. Maybe a timely reminder - The primary responsibilities of board directors to shareholders relate to their fiduciary duties, including the duty of care, duty of loyalty and duty of obedience. These duties require board directors to place the best interests of the company ahead of their own.

For me, I won't be giving them the satisfaction and if they want my shares then they should be forced to pay a fair price - and I hope the remaining shareholders feel the same way and hang in there! Would love to attend a shareholders meeting to ask some questions and see the whites of their eyes at the moment.

Expand

They are really on the hook after the AGM update if something emerges that ought to have been known in by April 2021:
"We ended 2020 with positive results in profit, revenue and cash generation, and a confident outlook for 2021".
"For 2021 we reiterate our guidance, that we provided in February, for NPA to be in the range of $400 to $430 million, subject to market conditions".
"Our positive outlook and competitive advance are built on our track record of ...".
CIM Price at posting: $19.23 Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 7 more messages in this thread...

First 25 Last

Add CIM (ASX) to my watchlist

SPONSORED BY