I don't think it's unfair at all... Raised money, undertook acquisitions, removed from the ASX at the cost of people who took up the prospectus... A show of faith would be to buy back shares at a higher price especially since "the market capitalisation of calibre doesn't reflect the underlying asset value of the business".......
Opportunistic way for management to expand the business, then leave the ASX... What is a real kick in the guts is that this is a well run company, that is above water, making profits, expanding the business... This is not a penny dreadful (although looking at SP you wouldn't think that!). Hense the "Fundamentally I understand why they want to delist" quote I made.
Is 12c better than holding, absolutely 110% yes IF they were not going to delist... In 2014 they paid out $11.06M in dividends, in 2015 undertook a share buyback of 7million shares totalling $1.6M. If they chose to pay a dividend of $1.6M that would equate to rought 0.9c/share divvy or approx 7.2% yield... They still managed to conserve cash and the acquisitions are cash flow positive... Could a 7, or 14% yield entice the market to value this company fairly - I think it would!!! Again share buyback reduced liquidity.....
Freindlydwarf I see some sense in your previous posts, but IMO the ASX should not allow this delisting to occur. I feel sorry for those who invested in this company thinking it was a well run company (or offered value and got in recently)... Because it is a good profitable company, investors had it right! But they will never see any return because the ASX is allowing the delisting. This should not happen in this day and age... Also Callibre have no debt so the SP is not going to affect their credit rating... again WTF, so many things do not add up to me... opportunistic way of making money from the general public...
CGH Price at posting:
10.5¢ Sentiment: Sell Disclosure: Not Held
