You are on the money with all your comments. One thing none of us has put a spotlight on is that we still see it as PGC - Its not its some almost 2.5 times the PGC we had its very close to being a national player and a few ticks up its hits the magical $100 million market cap and at that level many more funds and players are prepared to consider investing.
This next half year will help a lot but management are going to have to present actual figures and then pro-forma figures so that we can understand what "normalised " earnings would have been as less than 3 months will be added to earnings and even the new shares in issue will be there longer than the income from these businesses.
Really management must produce something that allows us the investor to understand what a normal annual eps would have looked like.
You hopefully will find some money for DVA - There is definitely an accumulation process happening - me included but I am a low fruit person so I just have an order in that below the main one and if they decide to hit it it gets hit. Over the past few months I must have picked up around 50,000 that way.
The differences for me is that PGC will be driven by results - No CR needed to drive growth now its running the business to deliver. DVA its about clicking over from what looks like break-even to profit that trigger and paying a small distribution is IMO the catalyst to its re-rating. As the register is getting tighter I think it is easier to run up than PGC but I am not sure whether it has the audience to hold that at any volume levels.
PGC Price at posting:
62.5¢ Sentiment: None Disclosure: Held
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