The credit approved term sheet is due by 5 pm on the 31st, that is a tick over a week. We have seen the share price fall back from high 30s to mid to low 30s the last 2 weeks.
When will they know if they have it or they don't? I find it hard to believe that they are still working on it, surely by now it would be in the banks hands. I can't imagine, the people who work for this sham organisation are all sitting around by the phone hoping for CDB to call and tell them the good/bad news. They would know by now if they will have the term sheets by the date or if they will need more time. I find it insulting that we haven't heard anything.
They are either drawing it out to raise concern and pick some shares up at a cheaper price or they just aren't going to get it done. Either way, I would have thought some kind of update is not to much to ask.
If i was selling anything to someone else with there track record, i would be calling/checking in with them to see how things are progressing. If our mgt have done this, it should be communicated to us, if they haven't done this, PICK UP THE PHONE.
Interested in other thoughts.
Ta, Beef.
SDL Price at posting:
33.2¢ Sentiment: LT Buy Disclosure: Held
