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