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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With NTA Dec 31st of $1.57 and a franking credit balance of $70m...
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$1.03 |
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Mkt cap ! $214.5M |
Open | High | Low | Value | Volume |
$1.05 | $1.05 | $1.03 | $268.5K | 258.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2275 | $1.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.05 | 917 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2275 | 1.025 |
4 | 28400 | 1.020 |
2 | 4900 | 1.015 |
4 | 13205 | 1.010 |
8 | 30388 | 1.000 |
Price($) | Vol. | No. |
---|---|---|
1.050 | 917 | 1 |
1.060 | 15800 | 1 |
1.065 | 2847 | 1 |
1.070 | 2532 | 1 |
1.080 | 14937 | 2 |
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