Should the sale of the Seeds & Grain go through, there will be bugger all left of PGW, think I'll be saying no on the 30 oct.
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Should the sale of the Seeds & Grain go through, there will be bugger all left of PGW, think I'll be saying no on the 30 oct.
Is there been any indication what they will do with the proceeds if the sale goes through?
Many seem to overlook that PGW will still be selling hundreds of millions of dollars of seeds and still make a decent margin out of doing so, even though not the ‘full’ margin they don’t have all the expenses that go with it either.
Might even be better off selling it
I note Agria haven’t ‘irrevocably’ agreed to sell their share.
Taken from press release Fri, 12th
If it gets approval, the board said Wrightson plans to return up to $292 million through a share cancellation. The remaining cash will repay debt and fund capital expenditure. Wrightson will probably need to shrink its corporate head office and the smaller business may attract less analyst and investor coverage.
Need your votes in re seed sale by 28th Oct.
I'm voting with Snoopy and the shareholders association against this sale. Short term versus long term I guess. Although my shareholding will be hard to count unless you have a lot of decimal points on your calculator.
Am I correct in thinking you need over $4mill in shares or 7,548,488 shares to have a 1% vote.
My valuation method to reflect the dividends actually paid from years 2012 to 2018 inclusive, representing the whole Alan Lai era.
Year Dividends Paid 'per share' Total FY2012 0.0cps + 0.0cps 0.0cps FY2013 2.2cps + 1.0cps 3.2cps FY2014 2.0cps + 2.5cps + 1.0cps (s) 4.5cps FY2015 2.0cps + 2.0cps 4.0cps FY2016 1.75cps + 2.0cps 3.75cps FY2017 1.75cps + 2.0cps 3.75cps FY2018 1.75cps + 1.25cps 3.00cps Average FY2012 to FY2018 inclusive 3.17cps
(f) indicates forecast result.
(s) indicates 'special dividend'. I have decided not to include any special dividend in this dividend model as I consider the special dividend is unlikely to be repeated.
SNOOPY