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http://www.hybridan.com/HybridanSCW/?small-cap-wraps"Polo Resources (SYNC 3.68p/£89.41m ) : 7. September Since 10 August when we last wrote on Polo, they have completed the sale of their stake in Extract Resources, netting £94m (3.9p per share) and have paid a special dividend of 3p per share. In addition Weiss Asset management initially increased their stake by 19.5m shares to almost 260m shares, took the special dividend and then sold down to 238m shares. A director also took advantage of the special dividend by selling 36.2m shares with the dividend at 6.3p before repurchasing 10m post the distribution at around 3.5p. On top of that, the Company announced the purchase (at 3.36p) and the cancellation of 3m shares. One certainly cannot claim that this AIM share suffers from lack of liquidity! At the end of the day, we believe that the NAV per share is of the order of 6.4p – a 75 percent premium to the current market price. For a company that has demonstrated its ability to distribute full value to shareholders, the current discount appears excessive." |
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| aus der Diskussion: | Polo: Kohle und Uran |
| Autor (Datum des Eintrages): | updax (10.09.10 11:21:28) |
| Beitrag: | 157 von 212 (ID:40131309) |
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