Ann: Updated Appendix 4E-EHE.AX, page-96

For a couple of reasons

1 - the large SP drop this week
2 - margin loan providers have begun capping & reducing the LVR for this stock. For example CommSec reduced the LVR to Zero on new purchases yesterday.

When this process begins it unfortunately becomes a self fulfilling prophecy & there is a negative downward spiral in price.

Capping lending leads to reductions in existing LVRs leads to cancelations in margin against the stock.

It's an ugly process I experienced first hand with SGH. All the signs are there, I only wish I had a 'voice of reason' back then & wasn't delusional about the stock returning to where it was because 'nothing was wrong' ...

History has painful lessons & when all the LVR capping etc begun with SGH they had reported a nice 2H profit & everyone was saying that's it's cheap with the smashing in price...

We now all know that smarter people than us knew what was wrong, namely VGI Partners who initially shorted the hell out of the stock.

Note VGI Partners also have queries about EHEs model...