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
Takeover target
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Last
94.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $198.5M | |||
| Open | High | Low | Value | Volume |
| 94.5¢ | 96.0¢ | 93.5¢ | $134.0K | 142.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2717 | 93.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 97.5¢ | 8428 | 1 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
94.0¢ |
Change
0.000 ( 0.02 %) |
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| Open | High | Low | Volume | ||
| 94.0¢ | 95.0¢ | 93.5¢ | 20024 | ||
| Last updated 15.59pm 10/05/2024 ? | |||||
| SVR (ASX) Chart |