It is a close race between this company and BSL to see who can suck the most capital out of its long suffering shareholders.
I kinda saw this coming and managed to offload most of my shares after the recent results announcement but stupidly hung onto a small amount.
Once you start writing asset values down (as the company did) you can expect a knock on the door from your nervous nelly banker. He/she will be totally unconvinced by your assertions that it affects cash flow not one iota and will demand you have a capital raising. What a joke !
Will be interesting to see what reasons are given for this raising.
CAA Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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