An interesting problem. I had sold down parcels bought at 5.13 and 4.13 for about break-even, anticipating further weakness, say to between 2.00 and 3.00, keeping a parcel at 4.01. Just as well I did hold some.
Now we have a takeover offer at 5.80 and a CR at 4.20. SHV is trading at ~5.00, so holders have every incentive to take up the CR - some are selling down to raise the cash, others just playing the arbitrage. There is money to be made.
I think the SPP will be very well supported by little shareholders - well beyond the $20m projected.
My gratuitous advice to SHV: don't scale back eager holders and return the excess over-subscription, please. I think the growth choice (no pun intended) is to plant more almond trees.
The Canaccord broker report (thanks inchiquin) values plantations at $17 to $30,000 an acre. An extra $10m would fund at least an additional 333 acres at $30k per ac in June 18 - probably more. If some kind soul has a better estimate of plantation costs please share.
I want to see an heavy planting program to grow the business. Yes, it is a looong 7 years until they mature, but that barrier stands before all almond growers. The grower who plants aggressively secures their future and frightens their rivals. I appreciate the buying of existing plantations is another way to grow. I want to SHV to pursue both, as they have done with considerable success.
Ash
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Last
$3.87 |
Change
0.000(0.00%) |
Mkt cap ! $468.4M |
Open | High | Low | Value | Volume |
$3.85 | $3.89 | $3.82 | $80.71K | 20.90K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 139 | $3.87 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.88 | 290 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 139 | 3.870 |
4 | 883 | 3.860 |
6 | 1526 | 3.850 |
3 | 2444 | 3.840 |
6 | 7942 | 3.830 |
Price($) | Vol. | No. |
---|---|---|
3.880 | 290 | 3 |
3.890 | 2951 | 3 |
3.900 | 3284 | 5 |
3.910 | 3197 | 4 |
3.920 | 7987 | 4 |
Last trade - 10.29am 26/06/2024 (20 minute delay) ? |
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SHV (ASX) Chart |