capital return

Looks like this has been missed in the flow of red today

I am not in any way an all that clued up on CVA but here is my take on it.

You pay 12 or 13 cents for a share and they give you back minimum 4 probably 6. It is a capital return as well so there may be tax advantages.

You then have a share that owes you between 6 and 9. They upgraded guidance recently and claim to be going to earn a bit over 1 cent per share. So we then sit at a P/E between just over 5 and up to say 9. So that part is still good.

Then if you read all the announcements recently there is a corporate soap opera going on. My take on this is BGL will take them out. If not someone else will.

So four cents soon, 2 more later (maybe) and a very good chance of additional corporate action. In the mean time they make a buck.

Worth a bit of a read and a look.

Worth a look. I hold BGL so only know about these guys through that connection. Bought a few of these today. Worst case I get a cheque for a few grand.