Significant vote of no confidence. Very very difficult industry to be in. I think the chances of STU meeting their future profit "guesses" (which is all they are), are VERY slim.
FBU shortfall was 31%. This is exactly how non-tradable rights issues are supposed to work. In the past, those who do not want to take up their rights will sell on market. Now the companies manage the sell down via an bookbuild.
FBU shortfall was 31%. This is exactly how non-tradable rights issues are supposed to work. In the past, those who do not want to take up their rights will sell on market. Now the companies manage the sell down via an bookbuild.
Both in the same problematic industry...be careful which dog you get into bed with, one has fleas the other fleas and mange lol
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Significant vote of no confidence. Very very difficult industry to be in. I think the chances of STU meeting their future profit "guesses" (which is all they are), are VERY slim.
Beagle with 70% uptake I think it’s a bit hard to call it a vote of no confidence particularly with the fact those holders not taking up the right are still entitled to any premium should the bookbuild be above $1.05 a share (assuming their is a premium). I would imagine if the rights were non renounceable the take up would of been close to 100% the fact remains the CR is recapitalising the business to a considerable extent. As always the proof will be in the post CR trading ....
Both in the same problematic industry...be careful which dog you get into bed with, one has fleas the other fleas and mange lol
Have made plenty of money in the past whenever FBU got itself into trouble and needed new capital and restructuring (as in selling assets etc). Just have to make sure you are not exposed when they get into trouble.
But thanks for the cautions, Beagle. That is why we have a market. Sincerely meant.
Fund managers going long on purchases it would seem. Will be interesting to see how STU trade over the shorter term the market isn’t expecting much afterall ....
Always take note when directors and management buy shares and/or more shares.
Has served me very very well over the years - not a sure fire thing but close! Believe me, the buggers are tight with their money, so used are they these days to free options, discounted price entries etc. So when they put in their own money, especially more than token amounts, take note!
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