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GZL - Gazal Corporation

tinhat

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There has only been one trade today which pushed the price up 20%.

Time 2:36:55 PM
Price ($) 3.000
Volume 200
Value ($) 600.000
Condition

WTF???
 

tinhat

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5,428 shares traded today between $3.09 and $3.10

I couldn't resist taking some profit although I bought this share for income. Sold some and put a buy order in. Will be interesting to see which way it goes from here.
 

tinhat

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I bought most of my shares back today at $2.60, which effectively means I got a "special" dividend last month of 10c a share (across my entire holding). yeah.
 

tinhat

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I could have sworn I got the tip for GZL from this forum and I came here to post a big thank you to the forum for the tip - only to find that I am the one that started this thread. GZL must have been a company I researched after it came up in a scan (probably based on yield). Bought at $1.95 and $2.00 on 06/03/12. Pushed the share price up 10% in doing so. 12.8% grossed up yield, 40% on paper capital gain. Yeah.

Announcement today that they doing a JV with Calvin Klein.
 

tinhat

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This company is completely unfathomable to me, yet I continue to hold. Today's announcement was interesting not because of the sale of the discount/factory outlet business but because it revealed something about the strategy to retreat to wholesale around core brands.

The truth is that I have very little time to look at the market these days so I have retreated somewhat towards "long term" holdings, yet this stock somehow is in my "let's see what happens" bag. The truth is, I bought for dividends, and the truth is that many of my more obscure dividend picks have turned out to be dividend traps.

Let's see what happens.
 

System

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On June 3rd, 2019, Gazal Corporation Limited (GZL) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between GZL and its shareholders in connection with the acquisition of all the issued capital in GZL by Sunshine B Pty Ltd (an indirect wholly owned subsidiary of PVH Corp.).
 

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