Great info Sammy. I disagree though that the tranche 3 issue is a negative for valuation. It is a negative for the share price but if the cash just accumulates on the balance sheet this will eventually be avaliable for distribution to shareholders unless management blows it.
There could be some restructure to payout this but as a shareholder I would not support paying this unless the amount was sufficiantly low or the targets were met. Why pay 80m if you don't have to. I'd rather wait the five years. Just looking briefly at the prospectus I don't see a mention of being prohibited from buying back shares. Usually these type of clauses go hand in hand. Anyone know if this is a possibility?
PGA Price at posting:
$1.13 Sentiment: Hold Disclosure: Held
