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24-02-2022, 09:17 AM
#12001
Originally Posted by JohnnyTheHorse
Property is due to go unconditional tomorrow (per notes to financial statements).
So it means we can count 55 Million as cash now in accounts or not yet ??
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24-02-2022, 09:18 AM
#12002
Member
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24-02-2022, 09:30 AM
#12003
Originally Posted by alokdhir
So it means we can count 55 Million as cash now in accounts or not yet ??
At FY22 as of now they have around $130m of cash (the $74m actual cash at 31/12 plus the property settlement cash coming in March) but by June the cash mountain should be more like $150m+.
FCF won't be as strong in H2 because capex is weighted into H2 but hopefully another $20-25m.
Although some might be disappointed at the lack of dividend today this is getting more exciting to me as its becoming more certain that the business is improving and they have no debt and heaps of cash.
Ex-cash they are trading for around 6.5x FY22 forecast assuming they make the top-end of guidance....still way too cheap and should be easily 10-12x and to me is worth $4.00 a share or thereabouts.
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24-02-2022, 09:48 AM
#12004
Will be interesting to see how the price reacts. My guess would be an initial retreat as traders and the impatient sell out after not getting huge news, then institutional money will be accumulating after the weekend. Confirmed dividend policy will make this attractive to a wider range of funds. $2.75 break next week I reckon.
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24-02-2022, 10:07 AM
#12005
Banned
Originally Posted by JohnnyTheHorse
Will be interesting to see how the price reacts. My guess would be an initial retreat as traders and the impatient sell out after not getting huge news, then institutional money will be accumulating after the weekend. Confirmed dividend policy will make this attractive to a wider range of funds. $2.75 break next week I reckon.
Yep, bit of a retreat as you suggest - down 9c. All up it's not a bad result - confirms SKY as a viable business for institutions to get back into. With so few shares on offer I don't think $3 is out of the question when they finally do announce a dividend.
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24-02-2022, 10:40 AM
#12006
Down to $2.50c now - still above yesterdays opening I suppose.
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24-02-2022, 10:47 AM
#12007
Junior Member
Why is sky always so secret squirrel about everything. Can't provide some certainty around capital management?
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24-02-2022, 10:53 AM
#12008
Sophie noted that we would be updated on strategic opportunities in June, or prior to that noting their continuous disclosure requirements.
In my opinion there is 100% a merger or major acquisition that they are currently working through.
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24-02-2022, 11:12 AM
#12009
Slowly slowly SP coming back ...wont be very surprised it closes positive .
Also noted single buyer of 10,000 lot coming very often to mop up supplies
Accumulation happening ...buying support is there ...not falling of the cliff after disappointing announcements of no immediate special dividend or buyback . They want to use capital for growth not thinking of returning to shareholders or spending on propping up SP . EPS growth will boost SP .
NEEDS MORE PATIENCE for excellent rewards ahead ...maybe FY 23 will be major gains time ...20 cents organic dividends also on cards plus corporate activity with organic growth
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24-02-2022, 11:19 AM
#12010
As expected a predictable retail flush at open. Sophie noted they are speaking with institutional investors over the coming days, so the price at the end of next week will be a far better indication than this mornings action.
I still can't quite fit all the pieces together to work out what they're looking at behind the scenes, but we can be certain something big is brewing if they are retaining so much cash.
Sophie once again also emphasised on the call that they are focused on delivering shareholder value.
Edit: lack of commentary in here suggests many are disapointed or sold out this morning. They clearly haven't held Sky long enough and know patience is required. If you have confidence in the serious undervaluation of the company, just forget about the day to day movements as the market will eventually value it for what's it's worth.
Last edited by JohnnyTheHorse; 24-02-2022 at 11:22 AM.
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