Myer: Result 2015

Myer needed a strategic review and a capital raising and today long-suffering shareholders got both.

What a difference six years makes. When the private equity consortium led by TPG floated Myer at $4.10 a share in 2009, the company was opening stores and promising a dividend of 20.5 cents a share. Now the company is closing stores, will skip its final dividend, and has just launched a 2 for 5 entitlement offer at $0.94 a share to raise $221m.


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