Yes I also thought the announcement was fairly positive.
I suspect there won't be any move to raise capital until the mess is sorted out and the SP recovers. If and when it does I certainly will lobby for a pro rata rights one and would be inclined to vote against one that favors the instos.
Although the managers can be tardy in keeping us informed at least their annoucements are fairly meaty when they do come out. Their success in processing closed centres is good.
The delay in sorting out ABC1 does not worry me as I believe the rents are secure and the delay is probably only about the receivers maximising returns to creditors. However it probably will delay upward SP movement as insto investors are likely to hold off till then, IMO.
I hope your SP predictions are correct or conservative. I see no reason to argue with them.
Ted
FET Price at posting:
24.9¢ Sentiment: LT Buy Disclosure: Held
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