R21,
That statement ignores the fact that the ultimate value of Cuadrilla to AJL shareholders will at least in part be determined by management's noust in firstly running & then moneterising these apparently now "non-core" assets. This will directly impact the degree of dilution down the track for AJL "ordinary" shareholders and should not be glossed over... as other parties may prefer to occur.
Maximising every dollar that can be generated from these assets is important and should be a prime focus of AJL management( & watchers).
Noting that those non-core assets have cost shareholders dearly. Were overpaid for (eg,Mitchell Drilling deal), poorly managed (eg,shuttering of construction division while a decade-long infrastructure boom underway)and embody highly questionable decisions that led us to the position where we are reliant on "white-knight" financiers.
"We" are still waiting to see ANY of the "special dividend" promised to loyal shareholders back around 2008 ...that instead morphed into multi-million bonuses for management and some 80 million "disappeared" offshore but FA to the shareholder core. Not something easily dismissed ....
Waiting patiently but with eyes open... http://www.copyright link/street-ta...ale-excarlyle-md-nabs-mandate-20171107-gzgyd3
AJL Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
