"Following this sale, AJA will have approximately $50 million equivalent (almost all is held in Yen) in excess cash, which provides the Board with significant flexibility in implementing capital management initiatives, including property investment.”
The time to buy property was before the run up in valuations over the last few years. I would far rather that AJA return excess capital to investors or conduct a further buy back to close the significant gap between the current SP and the underlying value of the assets.
AJA Price at posting:
$5.34 Sentiment: Hold Disclosure: Held
