JWI - Just Living Group (Just Water International)

[Balance]

https://www.nzx.com/companies/JWI/announcements/288333

Gets better - JWI is now buying shares on the market at 21 cents.

Wonder how those who accepted the 15c offer now feel.

[Balance]

JWI now buying shares at 22 cents - 46.7% increase on the 15 cents accepted by those who believed what Mr Falkenstein told them.

[Balance]

JWI was happy to acquire Clearwater at an EBITDA of 8.8 times.

On that multiple, JWI is worth $46m or 51c.

If you use a reasonable multiple of 6 times for similar companies (pages 35 & 37 of KordaMentha report) like Cool Clear Water etc, JWI is worth $27.5m or 30c.

Long long way higher up from the miserly offer of 15c.

Plenty more upside yet.

[Balance]

Plenty more upside yet.

23 cents and heading higher.

53% gain on those who accepted the 15c takeover offer.

[whatsup]

, very strange pricing here imo !

[Balance]

https://www.nzx.com/companies/JWI/announcements/293784

"lazy balance sheet, revenue tracking slightly higher than the previous year, and EBIT above budget and last year"

Historical EBITDA multiple of 5 times and historical PER of 13.1 times.

Happy to hold and see Mr Tony Falkenstein out on this one - especially with a few heavyweight shareholders in there who will keep an eye on things.

[heisenberg]

I don't think I could get involved with a company whose website looks as though it was created on MS Paint

[Balance]

I don't think I could get involved with a company whose website looks as though it was created on MS Paint

Indeed you should not!

[Balance]

Blatant greed at work here. Falkenstein probably knows bloody well with good profits now and very low interest rates he can renegotiate debt funding lines now at a substantially lower rate and with complete control look for significant other efficiencies so isn't really even paying 4.4 times EDITDA. This is highway robbery.

P.S. Good to see a strong bid for 200,000 shares at 16 cents on the market. Market is saying to Falkenstein, ante-up or get stuffed.

26 cents bid now, Roger.

So those who took Falkenstein's 15c offer 2 years ago have lost out on 73% gains so far.

I have in my time in investing never seen a more blatant case of deceitful behaviour, mis-information and downramping as was exhibited during the takeover.

I have also never seen a much more forceful rebuttal by a profile advisor, Colin Giffney, to the takeover offer at the 5c bid.

And what is the FMA doing? Busy chasing shadows.

[Balance]

27 cents bid now.

So that's a nice 80% increase on the offer price accepted by some.