Ann: Asset Sale Agreement, page-5

the Australian training business is leaking money... and without a RTO, they face an insurmountable task to regain their RTO status and make it profitable... more money in legal fees that they don’t have at this point in time. It would just further dilute the equity base resulting in leaser returns from the sale of the land asset, should they realise a sale.

it’s good to divest it rather than pour more good money after bad money. I’d rather see them focus on executing the sale of the land asset.

I wonder if the resignation of Vern Wills has allowed Craig Dawson to get this done and operate in a more rational manner. Seems they should have closed up shop in Australia some time ago.