any news on takeover?, page-30

Dancer have you checked out the recording of the recent general meeting. There CCC admitted pretty much being near insolvency. No cash available or assessable at the hold co level, $6m of annual expenses there and large short dated liabilities. They said they had 8 weeks and then would require emergency issue unless could sell SA assets. When asked how this could happen, they said "#hit happens". Its not the posters making stuff up or exaggerating. And its not just the market I'm afraid! The group structure is very flawed. Even if they sell a stake in the operating assets, its seems unlikely there will be any material net value left at the hold co.