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Strategies & Market Trends : Value Investing
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To: MCsweet who wrote (45505)11/16/2011 12:50:45 PM
From: Sergio H  Read Replies (1) of 78462
 
WILC

Their cash holding is mostly from the secondary offering. They had hired a consultant and were advised to pursue an acquisition which would give the co. and entry point into the U.S. market. Management apparently changed their mind and still have the cash. I think the main reason that it remains cheap is mistrust of management and what they will do with the cash.

Buying back their own shares does not appear to me to be the best idea since their float is tiny and insiders own more than half of the shares it makes the stock more illiquid and less attractive to institutional investors. I would love to see them use their free cash flow to establish a regular dividend. There was talk at the last conference call of issuing a special dividend with the cash.

I don't see much downside risk and I am willing to hold and wait.
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