Thanks pCap. Good assessment.
Wouldn't PAS be better served selling Review and keeping Designworks and swims? Obviously Review is worth a lot less, so the reset would be smaller, yet I think this would do the trick.
Spoke to Adam Gray, PAS chair who is also Coliseum rep, at AGM. Coliseum is as trapped as retail shareholders at this share price. They can't buy more beyond 'creep' without staging a full takeover, which they seem to have little appetite for. Whether Coliseum really has no room to manoeuvre is a matter of opinion.
We can expect the usual trickle of add-on brands and distributorships to also reweight the portfolio. An astute pick up might energise the price from these scary 25c lows. I watch and wait to buy again.
Ash
