well predicted cw. I am glad to see a change in the chair. They have had nasty habit of spending all the money they get and promising little. They are raising 28mil which should save them say 2mil in interest if they pay off debt and only commiting to beating last years 7 mil profit. Then they are promising a return to dividends of 50% of profits which is say 8 mil (EPS around say 10c) by 50% = 4 mil (on now 90mil shares). It looks to me as though they are borrowing to pay dividends ie inviting shareholders to lunch and then passing them the bill at the end. Common new chairman - get stuck into these guys.
PSH Price at posting:
86.9¢ Sentiment: Hold Disclosure: Held
