they relist tomorrow (1 Feb) and update just now says HEPS of 3c for first six months ending March.
Gonna be wild watching this one.
An yes I got it wrong, never expected it back. Happens
Std Bank late in showing AXL on OST.
Any idea as to how they would get to the valuation at around 50c?
like any other share = price discovery between buyers and sellers ..
I watched in horror on how the vultures dives in on ABIL. So glad it has a lifeline. Those who are short will hopefully be burn't like those who was short in KIO (remember Simon, they flack we took for KIO),
Long live ABIL (AXL)
depends where you short from ?
A 2 year wait for a 60%+ profit (@55c) is OK with me.
Pity the vultures descended on this and stripped the company though.
The question now is: where to from here?
not sure we can blame the vultures, the board sent it into bankruptcy ?!
Sure we can. ABIL should have been allowed to fail and the shareholders would have found value in the estate. Alternatively - the new "investors" could have righted the ship through a massive rights issue conducted in the public forum and subject to the normative corporate discolsure requirements and established comany law... but that would have been too transparent for them! Instead - the "Banks" stepped in to loot it. Crushed the small shareholders/investors as usual. Right up to and including the disgraceful STANGEN story. Vultures is too polite a term for them, in fact. The directors were just common crooks.
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