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Ann: GBST's Managing Director to retire, page-4

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peterdoobes

2,087 Posts.

6

29/09/15

13:44

Post #: 16080311
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Originally posted by peterdoobes ↑

A bit of interest the past week or so. The price reaction suggests the market isn't particularly worried about Lake leaving or maybe it had just got a bit too cheap. On a range of measures (forward PEs, ROE, gearing, recurring revenue % etc) I thought GBT had dropped to a point where it looked pretty good against some other listed players.

Lake owns 7% so there is a question around what he may do with his stake. Will he hold, sell on market or sell to a strategic buyer? I've always thought the end game for GBT would be a takeover but I think the international business will have to be a larger portion of the business before this will occur.

I've read that under new leadership GBT might push the Wealth sector a bit harder. For historic reasons Lake was more wedded to the Capital Markets sector

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Well that answers a large part of my question. Lake sold half his ordinary shares at $4.75. If you thought the market was being pessimistic with your share price you think he would have held on a bit longer

GBT Price at posting: $4.83 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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