Every six months or so somebody hypothesises about a buyer appearing. A buyer may appear, but the chances of Macquarie and Mr Bouris agreeing to sell are vanishingly slim. There is almost zero probability of this happening.
Macquarie and Bouris are both siphoning cash out of Yellow Brick Road with fire hoses. In addition to his salary as chairman, I believe Mr Bouris is also being paid consultancy fees and also receiving further funds indirectly through payments made to "director-related entities". Macquarie provide the underlying wholesale products for most of the retail products sold by Yellow Brick Road so they are receiving establishment fees, administration fees, interest, and exit fees.
How much is ever going to be allowed to dribble out to shareholders?
My guess is: not ever enough to make this a worthwhile holding stock.
YBR Price at posting:
14.0¢ Sentiment: Sell Disclosure: Not Held
