Branicks – The next stage

We allocated a full risk position to Branicks SUNs March 24 near the historic lows; since then, Branicks and VIB have been busy selling assets internally and externally, so we have looked at the prices received and what our analysis points to for future asset sales. Reviewing the sales data, we updated our analysis to refine our investment stance. We also build the maturity profile into our assessment, and calculate what actions Branicks needs to take and when they need to take them to maximise value.