I agree this is great news buc, and I also partly share your view aramalap2.
Do they want to sell just their existing (pre-ironman hybrid) barrier assets, or their entire barrier assets?
The half yearly report (26 Feb 2015) stated on page 15:
'The Company continues to seek buyers of the Rental barrier assets, and has commenced commercialisation of the new Ironman Hybrid portable safety barrier solution in anticipation of demonstrating to the market that the improved assets are commercially viable and therefore more attractive to existing temporary barrier providers.'
At the time I interpreted this to mean they wanted to get rid of their old barrier assets in order to focus on the superior ironman hybrid. I think I was mistaken.
Today's announcement reads to me as though they're seeking to exit barriers altogether:
'We are currently in discussions with various interested parties looking at purchasing our existing barrier rental portfolio and this new free-standing regulatory approval reinforces the value in this unique offering for potential buyers.'
Bottom line is I'll back their judgment 100 per cent. I'll have slightly mixed feelings about losing the Ironman Hybrid - it seems to be a cutting edge product. But it will certainly add to the marketability of their barrier assets and, if the price is right, why not sell it. They can then pay off another big chunk of debt and I'd certainly welcome that.
(20min delay)
