I'm just back from the meeting
Mood was more subdued than I was expecting.
Both Andrews apologised for the company's performance which I think tempered peoples anger.
I was quite impressed with Harrison and certainly felt better leaving the meeting than I did when I went in
Key Points from AH off the top of my head were,
Company to go back to basics. Concentrate on core business
Deleverage the balance sheet by selling freehold sites and cutting staffing costs. Rebrand NSW under Capital banner
Expects JV with Citic to be finalised within weeks
No income from JV for at least 2 yrs
Excited by recent Enlitic discoveries
No time-line on when Enlitic might generate income
No shareholder dividend for this FY possibly a small one the year after. Concentrate on reducing debt.
AD said he intended increasing his shareholding in the company
Harrison certainly impressed me more than JC did at last years meeting. Sorry if I've missed any key points but as I said I feel better now than what I did before the meeting. Might even consider adding a few more to the portfolio.
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