What about the $27m worth of debt due this year? I am assuming that this will be repaid with asset sales? Are you worried that they may not get enough for these sales and still be left with a stack of debt that needs to be rolled over? I think if they do clear that debt successfully and focus on core operations it might be a corner turned for them.
Also director buying is reassuring. Stringer obviously wanted to send a strong message to the market that he has confidence in the company. Just need to question if he is making the purchases because of some behavioural bias. We have to remember that this is the guy who tried failed to successfully expand in OS markets and caused the $10.8m write down. Hasn't been totally asute in the last few years so no reason to believe he is now.
Still i agree will hold on and hope things turn around.
PBP Price at posting:
34.5¢ Sentiment: LT Buy Disclosure: Held
