Finweek English Edition - - FEEDBACK - Rod To­e­rien Ed­i­tor Marc Ash­ton re­sponds: fi­nan­cial prob­lems

I would urge all pub­lic share­hold­ers whose faith in the man­age­ment and the fu­ture of this com­pany has been dashed, not to ac­cept the pal­try pro­posed R3.90 from a com­pany that should be re­named Litha Con­share and not Litha Health­care.

In the hope that you print this let­ter, I really look for­ward to the de­fen­sive re­sponse from Litha man­age­ment.

Con­stan­tia, Cape Town The last few years have been tough for small-cap pun­ters, and the suc­cesses of the likes of Litha and Ci­pla Med­pro have made the phar­ma­ceu­ti­cal sec­tor one of the most at­trac­tive for in­vestors. To lose both qual­ity coun­ters from the bourse in a rel­a­tively short space of time is dis­ap­point­ing.

Litha specif­i­cally: If in­vestors go back to the head­line earn­ings per share for the full year to De­cem­ber 2011, they’ll see the group de­liv­ered 43c/share, which puts it on an earn­ings mul­ti­ple of around 9 times earn­ings on the de-list­ing price. It didn’t look ex­pen­sive in the long run.

I think share­hold­ers have been given a raw deal and it will be in­ter­est­ing to see which of the share­hold­ers con­tinue to hold their stake post the de-list­ing.

The cause of our

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