The Ceo bought a $20m block of land on the beach front of some beach , so it wouldnt suprise me if thats where it went.
But na seriously , I think they are going to use the capital from the sale and invest in the products and distribution systems and marketing aspects to drive up sales.
I have sold out of my stake in Globe mainly because I am a bit weary of the companies ability to perform. Although they showd strong performance in the final quaters of last financial year the company is selling off 35 % of its revenue in the divisions it sold to pacific brands.
I know in the end this was probally a good move as any efforts to consilidate will be positive in the long run. However in the short run I am a bity weary of their abilities to to grow.
GLB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)