In reality I would love to mate! Maybe later down the track.... :-)
The reality is if I wanted to negatively gear, Id buy a residential property.
Whats the point of holding onto an asset that costs us substantially more to service than revenue it generates?
Another intangible benefit of getting rid of this asset as opposed to selling many community centres to the same value is less management resources are used to dispose of one asset as opposed to many.
It is management’s priority to ensure shareholder value is maximised.
As mentioned in my past post, Selling Galleria has a 3 pronged benefit of reducing gearing substantially, maintain NTA and increase EPS/div yield.
It also reduces our reliance on generating a material amount of revenue from the one asset. Galleria makes up well over 10% of total revenue.
It is a no brainer and the new CFO should be looking to do this.
The share price where it is now is sickening to say the least.
Cheers
CRF Price at posting:
$1.81 Sentiment: LT Buy Disclosure: Held
