Disagree about no need for activism. APAC may well have steered the ship well but it is incumbent on them to provide communication around a capital management plan, whether it is for Rentails or whatever, which they have not done. We are just guessing here on why they stack cash with no commentary.
As an investor you also don't take the considerable risk in equities to have your company throw the money in the bank and get bank interest - I can do that risk free myself. I would not have a problem if they say they were putting it aside for Rentails (if it was going to be used shortly) but it wouldn't make sense for them do to that given the timeframe. They could also announce a buyback or dividend which would very likely send share price much higher and either use debt or equity (at a much high price point) or combo to fund Rentails at the time they actually need the funds - makes a hell of a lot more sense given timeframe on Rentails.
MLX Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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