The lack of growth is the issue, but they can always buy it. They have nothing in WA, and can surely expand a bit on the East Coast.
They may also move into complimentary areas.
One issue is with the boss of Primary retiring - he has a 20% overhang, not sure what will become of that holding.
The board seem pretty conservative, too scared to even pay a decent divvy. Probably a good thing though since they almost went guts up a few years back.
VEI Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
