Looks like my 12 - 18 month horizon has just blown out by 1 - 2 years!!!
Certainly this announcement/ action will test many investors patience.
Those calling the price at <$1.20 are probably on the money. This is exactly what happened to QAN and we saw what happened to their share price.
The only saving grace will be the IPO on the auto business. It's value is around $0.38 - $0.48 per share. The rest of the business (based on NTA indicated in the announcement) is around $1.23 per share (i.e. $1.15b/ 929m shares). However, I'm sure there will be a healthy discount applied given no dividend for the next few years...... maybe 25% discount (which will give us a share price of around $1.20).
I hope you are all very patient!!!
NB: I have also changed my sentiment to a short term sell.
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