for a good recovery what is needed is a one cent or 1/2 a cent rise for 5 days and then an announcemnt that ANZ has refinanced till 2012 or so. this followed by a report that shows EPS of near 5-6 cents could possibly take it to 35 cents to 40 cents. However worrysome facts are
1)WIlson HTM securities sold nearly 2million shares in one day(on the 3rd of June)
2)why have they retained Wilsons other wing as strategic advisers is a bit of a mystery after the massive dumping they did over 3 months
3)director resignation was not encouraging
4)director selling down was not helpful either
Positives are
55% ownership are by two directors who authorised the buy back using money earned by the company (half of which is theirs technically)
Their technology is defenitely relevant and well positioned in china next to major clients
the company has recieved strong buy recommendations by analysts till the recent past
share price scare and selldown was also triggered by the percieved opportunity cost in other shares which were skyrocketing at the time of the selldown
all are my unprofessional opinions thnx
SAV Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
