sale of sps for 10mill rather than 7mill sounds good. noone is going to complain about an extra 3mill - it will help pay down debt significantly. i would be interested to know however how much cus has spent on sps over the years and whether the expenses are being recouped and then some. sps must be worth abit as a standalone enterprise, given its a JV and we are just selling our stake. hope cus is not throwing the baby out with the bath water to pay down debt which can be done in a few years anyway. Was it ever going to turn into a profitable business for CUS???
For those going to the AGM it would be great if you could ask some questions about bailment interest costs. I.e. what interest is charged (i.e. cash rate plus x%) and how interest costs are derived (i.e. $Xmillion per year charged at X% p.a or as the case may be). The point is it looks like the cash rate will be brought down to about 4.5% next month (give or take 25 basis points) and it would be great to work out how much of a saving that equates to over the full year.
CUS Price at posting:
$1.10 Sentiment: LT Buy Disclosure: Held
