1) What kept shareholders holding on and also new investors to buy in I reckon is CLange stating on Boardroom Radio a couple of times about the potential $150 Million contract bid in Qatar which he said Neptune were asked to bid for. He also stated Neptune had put a lot of work in and worked hard to try and win this contract but was it for real. Did he just make this up because I searched every internet site possible to try and find what this contract may have been and I found nothing.
2) When the AFR article first mentioned that PE firms were eyeing Neptune why were they so quick to react to the article and stop shares from trading too high. Its like, oh no, we dont want the share price to go up, we want it to go down or we need our plan to play out a few more months yet. I cannot think of many other companies that would ask the ASX to halt trading in their shares based on a newspaper article.
3) Christian Lange is not stupid and I cannot help but wonder why he did not take action on their debt situation sooner. The CFO leaving was certainly a sign and why didnt the new CFO do something about it. Like I said he must have known all this was going to come to a head in November.
4) Another poster on Hotcopper mentioned the third party payments of around $15 Million in August or September. CLange must have known all these payments were going to be an issue if the business did not pick up.
NMS Price at posting:
8.4¢ Sentiment: Sell Disclosure: Held
