Premier Investments on Myer appointment of “defence” advisors

Premier Investments

Premier Investments Limited (“Premier”) notes press articles relating to Myer  Limited’s (“Myer”) appointment of “defence” advisors. 

Premier advises that it has no current intention of launching a takeover offer for  Myer. 

Premier also acknowledges that Myer has confirmed that it is “fully aware of its  continuous disclosure obligations”. 

According to Bloomberg, analyst consensus for FY21 has Net Income for Myer of  $33.5 million. 

In FY20, Myer reported a statutory net loss after tax of $172.4 million. 

Does the Myer Board consider that Bloomberg consensus reflects the benchmark for  updating the market or do they look to the $172.4 million loss from FY20 as the  relevant benchmark? 

All Myer shareholders will remain in the dark until the Myer Board does what Premier  and the vast majority of other retailers have done and update the market as a matter  of urgency.  

/Public Release. This material comes from the originating organization/author(s)and may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.