Just a little note of caution regarding the sale. FBU have said it includes clauses common for a transaction of this type and should settle within the FY19 year.
Common is the use of "force majeure" clauses that are specifically tailored to the circumstances surrounding the deal. Clauses like this have so many variables I couldn't possibly speculate on what they might be but are often tied to a major exogenous shock event such as for example a XX% reduction in XYZ share market index which is interpreted to mean business conditions have changed quite materially.
This sale isn't completed yet by any stretch of the imagination and if the markets really tank the sale might too. Good luck to holders. I remain of the view that this company has a truly appalling long term track record of delivering to shareholders.
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
Looks like Milford has finished selling its building & property related stocks so it must be up from here.
Classic Milford - sell their shareholdings quietly and then, shout from the rooftop to let everyone (who are easily impacted) out there know and get spooked to sell as well.
They did that with Diligent and it was an absolutely boomer for those of us who bought off Milford.
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