With NTA Dec 31st of $1.57 and a franking credit balance of $70m this is a sitting duck for a takeover imo. NTA likely over $1.60 now.
Pay a fat dividend to unleash that 70m franking credit balance (that's not included in NTA) and the suitor can get SVR for NTA while still offering a premium.
$1.57 NTA in Dec, less dividend paid 7c (small adjustment for DRP and buybacks), add after tax earnings for 3 months of a conservative say 11c and NTA is ~ $1.61 right now.
Management have to do something to justify their existence, EV ~$25m on a market cap of $350m and they are making $1m profit a week = Takeover target imo
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Last
$1.34 |
Change
0.045(3.47%) |
Mkt cap ! $279.2M |
Open | High | Low | Value | Volume |
$1.31 | $1.38 | $1.30 | $901.8K | 677.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 21153 | $1.29 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.38 | 3000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 21153 | 1.290 |
2 | 16000 | 1.285 |
1 | 15670 | 1.275 |
2 | 26190 | 1.260 |
1 | 800 | 1.250 |
Price($) | Vol. | No. |
---|---|---|
1.380 | 3000 | 1 |
1.400 | 6450 | 3 |
1.430 | 20000 | 1 |
1.490 | 150 | 1 |
1.610 | 500 | 1 |
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