Thanks, good articke and they also point out the fact that they don't know why the price is sitting at 20 cents.
I mean they even said their cash per share sits at 7 cents plus all the businesses. Current tangible value is around 70 cents if u exclude all Goodwill.
Its really strange that people paid more than 2 rand a share a year and a a half ago at listing. Since then it just dropped even though they generating profits and keeping a good cash flow.
Maybe investors are just angry they lost so much value and now they just throughing their shares?
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Think if there is one thing more powerful than results, it is uncertainty. The China JV and value of the Goodwill could be the cause of that, Specially for the 2 acquisitions that seems to underperform.