1982, thanks for your optimism. I agree with you. I am already holding a sizeable long position.
The issue I have is the lack of commentary from management to existing shareholders. The VIP shop investment is a no brainer - good news to all.
However, if management had been more upfront with the investor public, we wouldn't need to be diluted even further by the Ward Ferry investment. Management could tap existing shareholders with confidence if they were more up front and sold the vision.
Things went pear shaped for management last year with the Living Social purchase. Totally out of the blue and the subsequent rights issue was as popular as a can of cola in a beer tent. Investors were spooked and dumped shares as a result. Investors hate uncertainty!
I hope that management can see sense and provide a comprehensive narrative at the AGM, better sooner.
E88 Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
