Yes, prospects are very strong that this stock will continue to do well rather than be liquidated.
It is essentially a shell company about to pay out fully franked dividends (the franking credits are no use to us Kiwis however) of 0.7889c + a capital return of 0.81c (subject to shareholder approval on Tuesday next week) ex date 10 October for payment around 22 October. A further capital return of .3931c has been proposed subject to shareholder approval at the AGM in Nov. That all adds up to 1.992c. There is also a small residual amount remaining.
The long standing current Directors have resigned to be replaced by three representatives initiated by the very successful Wilson Asset Management.
Wilson proposes to stop the proposed liquidation of the Company, so perhaps the capital returns will be stopped in favour of doing something clever to grow the Company.
Essentially one is buying NTA plus just a little for the expertise and presumed exciting prospects to be presented by Wilson.
Yes, prospects are very strong that this stock will continue to...
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Last
$1.25 |
Change
0.010(0.81%) |
Mkt cap ! $518.3M | |||
| Open | High | Low | Value | Volume |
| $1.24 | $1.25 | $1.23 | $510.8K | 411.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 95645 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.26 | 10000 | 1 |
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| Last trade - 15.47pm 22/11/2024 (20 minute delay) ? |
| FGX (ASX) Chart |
