Doesn't look to be a new CEO but non exec Chair has now taken the reigns as an Exec Chair and is calling the shots.
I don't see any new cash injection from Board/Exec ... i think they're at their limit tbh.
My callouts are:
1. they've moved to a sales brokerage model ... means less gross margin
2. they've reduced significant white-collar labour cost ... great, but where's the leadership f&b experience
3. no assets, except for key equipment which are all asset financed anyway
4. no money to address current inefficiencies
5. no immediate ability to be self-generating
6. no interest from the market in buying grossly underperforming business segments, they prefer to wait for a firesale
So, once the CBA finance extension falls within twelve months again, listing rule 12.2 will be breached, and yeah/nah ... we're back to where we are.
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