RE: Amtech and 4 Corners19 Apr 2024 13:08
I'm not one to post often on these LSE boards, but time is right for one now.
It's been a beautiful rise. Really, just beautiful. I've been in GMS since 2016, first buying at 49.5p. Have averaged down numerous times since, and now sitting on over a 3x money multiple. I was VERY uncertain and suspicious during the depth's of GMS troubles several years back. But I held my nerve and stayed focus on the fundamentals and took comfort that no matter how I cut it at the time, I couldn't see how Seafox (ManCap)/Mazrui/Horizon would have been able to legally get away with snapping up the assets or company on the cheap and screw over the other investors. Alas, I think GMS' investors have proved themselves bona fide here. This has been a strong conviction holding for me for some time. I didn't think we'd get to 24-25p so soon. In another 2-3 years, with net debt down to negligible levels, EBITDA north of $120m, dividends being paid and at an 8x EV/EBITDA the equity should be able to get up to 60-80p. I also wouldn't be surprised if GMS eventually gets combined with Seafox (...on attractive terms for all parties).
@4C - come back! I think he may have long since moved on....
All the best everyone, and long may GMS shine!