RE:RE:CCGrowthnvalue wrote: Completely agree. The answers to the sell-side analyst questions lacked substance. Given the cash balances and the PLM earnout on the way, why not initiate the NCIB asap? Sounds like the same BS lip service Philip M use to spew...which was followed by his quick pivot to an unecessary pricate placement at the expense of shareholders. If there are no insider buys near-term, then its clear they also have no confidence in their own plans.
100%
Tom clearly isn't a strong communicator, at least in the CC format. (Given his success I presume he is much better one-on-one.) I think it sounds like they're bumbling around in the dark a little more than they are.
That said, it's obvious that they don't know what to do about Tufropes. What would a rational buyer pay today for that business? Certainly nowhere near the $280m or so they burned on it. No wonder they can't arrange sensible financing.
Analyst questions weren't really answered. For what it's worth, I think it's likely see a downgrade from TD based on lack of clarity and expected NAV decline over the next 12 months. The $80m EBITDA guidance seems okay until you factor in $13m holdco expenses, ongoing legal+consulting fees, and over $20m per year for the preferred shares+tax The holdco costs are insane given the scale of the company and they didn't articulate any plan for them to go down.
Regarding Mithaq, I'm afraid that they're waiting for the CMT to release the reasons for the dismissal and will then let their lawyers talk them into blowing even more $ in the courts.
Happy with Bozzetto results and underwhelmed by everything else.