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2.0¢ freedom insurance group ltd

Ann: Clarification of market announcement, page-22

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gixxerboy

473 Posts.

1

05/10/18

12:00

Post #: 36010725
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Originally posted by Buyonfact ↑

I have not invested in this stock as I am not a trader and if I was to invest I would like more info if I am to buy in long term.

I must admit that at this price and based on the information available you would have to believe in more upside potential then downside.

There was a number of about $10m for ongoing commissions being earned last year of about $10m. This probably means the annual run rate is closer to $12m after allowing for growth over year and free first year etc. I would have thought just based on normal industry valuations that this was worth $36m in a sale. Even assuming the cash was used for an orderly transition to a new business entity to run this with no benefit to existing shareholders for existing shareholders and no value in the insurance side, this would still see a 70% gain on the value today. That is a very conservative view.

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I tend to agree with you. Now that Mr Cohen has left the building, I may have a closer look to see whats left in this cigar butt.

FIG Price at posting: 9.0¢ Sentiment: None Disclosure: Not Held
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