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.
sale, page-2
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Last
$2.70 |
Change
-0.200(6.90%) |
Mkt cap ! $111.9M | |||
| Open | High | Low | Value | Volume |
| $2.70 | $2.70 | $2.70 | $4.385K | 1.624K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7434 | $2.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.90 | 2001 | 1 |
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| Last trade - 15.32pm 28/06/2024 (20 minute delay) ? |
| GLB (ASX) Chart |