Novus: Printing money at last
A 232% jump in its share price, and talk of a smaller, cash-rich future, suggest the turnaround is no asset strip
17 June 2021 - 05:00
Turnarounds are never as easy as they look, and the JSE is littered with tragic stories of a stout value underpin — such as sizable cash piles — being rapidly obliterated, either by strategic folly or operational ineptitude.
If the board, executive management and major new shareholders don’t see eye-to-eye on strategy, investors can be left high and dry as value and prospects recede rapidly...
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