Yep risk101 I am buying a few. It's about 6x earnings. A couple of issues - one is it is a one customer business at the moment with Dixons. They do have an-ex Dixons director on the board but at the end of the day that may not count for much.
Another is that they no longer have a need to be on the ASX. I couldn't see them moving to a UK exchange though as there is no point and it would costs a lot of money to 'swap' and it achieves nothing.
On the plus they have 30c cash in the share price. Again on the negative they may not spend this wisely.
Looks interesting and it is cheap enough that I think it is a buy..
Anytime you can earn pounds whilst sitting Australia is good in my opinion.
TSM Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
