Earlier in the week we reviewed two share offers from Templeton Global Growth Fund (ASX Code: TGG) and Troy Resources (ASX Code: TRY). It's time to make a call on TRY.
The $1.25 share offer was announced on 26 February and, since then, the TRY share price has bounced round like a yo-yo (the low was $1.15 and the high $1.39). While we aren't keen to add to our Aggressive Portfolio's stake, not knowing whether the share price would be $1.00, $1.50, or anywhere in between, made an early decision on whether to pass, or buy and sell the additional shares, difficult.
Today is decision day for most people. The offer closes at 7pm on Monday but the practicalities demand a BPay payment today to be sure of it going through.
Where are we at?
TRY last traded right at $1.24, so it's a simple call. We'll pass, comfortable in the knowledge that part of our ownership of the company isn't being sold at a discount to someone else.