the problem is they need a lot of capital to get the LVR under control.
now if they want to get back to a 50% LVR they need $450m at least. if you were putting money in like $450m you would want a good deal as well. so the poor holders like you and me will be diluted because APN wants to keep their all important management rights (which they valued down by $6m in their accounts). so the only way i can see it working is for an order sell down of assets for us to get back $0.25. if they dont start selling down assets they need capital and they need a lot of it.
just look at the multiplex trust, they are doing the exact same thing.
yes there is value in this stock but unless the LVR is under control we will never get to realise the value, thats my fear.
AEZ Price at posting:
4.8¢ Sentiment: LT Buy Disclosure: Held
