Hi Switzer Team,
As a shareholder in Select Harvests Limited, are you able to provide your opinion/thoughts of the Select Harvests Limited Share Purchase Plan? Applications to participate in the plan close on the 3 November 2017.
Regards
A: On valuation grounds, looks like it is a no brainer to accept ($4.20 application price vs current price of $4.85). The question is whether you want to hang onto the shares..
According to FN Arena, the consensus broker target price is $4.57, approximately 5% discount to the current price. Select has been an under performer, and the price is only at this level because they received an indicative bid of $5.85. (which the company rejected). Is the bid still there?
My inclination is to be a little wary with this company.
Regards
