Premier starts move against Myer board, page-7

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Berger978456

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07/02/18

16:59

Post #: 30894628
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Originally posted by usagi44 ↑

I have to confess to exiting my MYR position some months ago. I became increasingly sceptical of the whole situation - the incumbent board overseeing seriously poor performance on the one hand and Sol Lew's motives on the other. I'm still keeping an eye on developments, but my thinking is that (1) the culture within the firm is beyond repair and (2) if Sol successfully rolls the board at an EGM, nothing much good will come of it for non-PMV shareholders. Premier (PMV) and Sol's associated companies, by contrast, will get a vessel into which they can aggressively peddle inventory, unwanted or otherwise. (Owning PMV rather than MYR might make more sense.)

For those who remain holders, the stock does look pretty oversold with a serious amount of negativity priced in, so downside is probably quite limited. Also, any unexpected positive news would certainly squeeze the shorts. Best perhaps to hope that another party interested in taking over the brand and/or benefiting from the exposure to shoppers afforded by the stores might emerge. Alan Kohler in an interview with Kogan.com CEO Ruslan Kogan a couple of weeks ago jokingly put Kogan.com into play as a potential acquirer of Myer. This seems unlikely, but it's something like this that Myer really needs at present.

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Agreed - so much bad news priced in - If I had a spare 500M i'd be buying MYR outright and getting the right experienced retail executives in who can turn the ship around. This thing is no where near dead - just needs a bit of direction. The numbers aren't that bad.

MYR Price at posting: 63.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 65.0¢		Change 0.035(5.69%)		Mkt cap ! $1.123B

Open	High	Low	Value	Volume
62.5¢	65.0¢	62.0¢	$3.394M	5.299M

Buyers (Bids)

No.	Vol.	Price($)
1	4680	64.0¢

Sellers (Offers)

Price($)	Vol.	No.
65.0¢	50902	6

View Market Depth

No.	Vol.	Price($)
1	3053	0.655
2	177	0.645
3	8180	0.640
2	6000	0.635
6	195001	0.630

Price($)	Vol.	No.
0.610	3601	1
0.620	94	1
0.640	45	1
0.650	12333	2
0.655	78868	4

Last trade - 16.10pm 28/07/2025 (20 minute delay)

MYR (ASX) Chart

Premier starts move against Myer board, page-7

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Premier starts move against Myer board, page-7

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