Correct - it's about time more people called it for what it so clearly is, a massive stitch up.
Grant Samuel don't even consider a vaccine and we've now got 3 major ones, absolute game changers for the leisure industry. Domestic travel in NSW regions is already WELL UP on last year, QLD is about to have a bumper Summer.
Even without a vaccine, their own "expert" forecasts show EBITDA coming back strongly for FY22 on all three of their "Scenarios" (page 253 - 254 of the Scam Booklet). It's likely to be sooner - now that the QLD border is open, Gold Coast theme parks will have a MASSIVE season.
How does a BoD ignore the already happening recovery and flog off the company from the ditches?
Name any other ASX listed company that has been flogged off this year? Virgin Australia was already $5.1 billion in debt and making ongoing losses long BEFORE Covid19 started - it was just the straw that broke the camels back.
Chris Mittleman came out swinging in November 2019 when PEP first lobbed $3.90 at us. He said it wasn't nearly enough back then and has been entirely consistent the whole time - and most importantly, is absolutely putting his money where his mouth is.
VRL Price at posting:
$2.95 Sentiment: Hold Disclosure: Held
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