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Category: General

General posts.

Explanation of a “Reverse Listing”

Posted on 26/08/2020 by Keith McLachlan

OLD POST – Original posted on May 18, 2011 Company A is listed. It has only 100 shares of R1 each, hence a share capital and equity of exactly R100. However unrealistic, it also has no other assets, liabilities or operating costs. For all effective purposes, we would call Company A a “cash shell”, as…

Why Excess Cash Is A Drag

Posted on 26/08/202026/08/2020 by Keith McLachlan

OLD ARTICLE – Original posted July 8, 2011 Ever heard the term “lazy balance sheet”? Perhaps you’ve heard the term “excess cash”?  They may sound strange, but they are rooted in capital efficiency and the theory of maximizing shareholder returns. But, this is perhaps getting ahead of myself, so allow me to elaborate…\ Return on…

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