I think the market got spooked by their comment on potential redemptions. As the quantum is unknown - market often overreacts. I have had this on the radar for a while , and bought in yesterday as I think the key in this environment is balance sheet strength , which they have. Even a 25% drop in EBITDA does not justify such a drop rembering it has already fallen before the update medium term I think the current price will see great. They can if they wish retain or reduce dividends to increase cash . it’s a solid business now trading at a very cheap price
NGI Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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