Hi Snoopy
>yep, nice trot..but not worth anything until you sell :-)
>
"I disagree. No need to turn a share into cash to determine its value.
The value of the business is the value of the business. Whether an
individual shareholder is buying or selling or sitting on their hands
makes no difference at all."
I'll meet you 1/2 way - perhaps my comment was misinterpreted in its brevity... Granted, as a value investor, the 9% div return does have value ( as does WRI ! ) however, I aimed my comment more with the reasoning that should the takeover offer not go through - it is highly likely that WRI sp will return to its pre offer levels ( less so if Norgate does throw his toys out the cot !) in which case the potential for a healthy capital gain has gone begging.
There is always the option of a sale today realising a 12% gain [from pre offer levels (more than a years divvie)] with the possibility of buying back in to WRI at a later date at pre offer prices - and investing/collecting a divvie, from another listed company in the meantime.
Should Norgate secure his 50.1%, there is also the effect a drop in liquidity could have on the sp - but then a holder after the divvie wouldn't be too worried about that, and it could work for or against - though I understand, usually against.
I appreciated your other comments, thanx.
On another subject - you might be interested to know that I just ordered a delivered Pizza Hut pizza - I am sure they have put their prices up -
$31.50 for two large crispy bases ( satay chicken and supreme with extra cheese in case you were interested), bottle of pepsi and a garlic bread - has been a while since I have ordered in Pizza but memory serves to say that this was about $25 worth last time..
I enquired as to wether the deliverer had been very busy and he said not really though" lotso peacup" this threw me but finally got to the bottom of it to realise that he was saying not too many deliveries, but lots of " pick up " pizzas were being sold.
Looking forward to seeing the outcome of the WRI saga.
Time to dine with a little red wine ( never did like pepsi)
Best Regards
Barrel Scraper
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