Ann: Non-Renounceable Issue, page-6

Hi, I few questions regarding Cash Converters.

I currently hold a decent amount of stock, and fully participated in the stock offering, including taking up my full over subscription amount.

To me Cash Converters has liquid assets close to market cap. They make approx 20mil a yr (PE 8-12ish). Their loan origination numbers was hit by the SACC law changing, but they have mostly recovered. And they have what appears to be what I consider a free option on top of all this - Their car finance department is new and starting to turn a profit, and given the propensity of most people to love finance, this could be a huge boost to earnings in the future.

But the stock is very out of favour despite all this...

My question to the posters that have disclosed that they own stock. Why do you own it? And more importantly, are we missing the reason why this stock isn't valued higher?? (could it be the dividend cut?, does this make that much of a difference?)