SB, VMP, et.al the question that has been on mind since the quarterly, is not that Nationwide delayed......that sucks and can happen but markets understand that better and sell down less when they accept the reason for delay from good management communication in an immediate manner.
But the $10m dollar question is WHEN did CR8 know about Nationwide delay......and why the communication in the manner they did by altering the documentation to Q217, without explanation and even saying on track when its not. Why did they release this major market sensitive news NEXT day after a public market open investor conference. Did they know at the investor conference and BS to everyone ?
ASX Listing rule 3.1 could have been violated IMHO. That upsets me and scares me investing as much in this company. Thats doesnt make it so, but the market probably agrees with me. Perception is reality in markets more often than not.
Time for Mgt to come clean on all aspects of Nationwide's decsiion The when, the why, the how, the how long, the who said, the who in CR8 knew, the reason why no separate and formal disclosure, the reason why it wont happen again.
Anyone disagree ? Please say they dont want answers to these reasonable market questions.
20 years in Markets, this is not the worst I have seen....iit shows inexperience more than incompetence, but it nonethe less creates share overhang of investors that couldnt get out higher but now want out. Capping the stock in until mindblowing Nationwide success. Like LBT as VMP correctly says.
Mgt need help IMHO. They are green in managing an ASX public listed company BHP has the same listing rules as CR8. Expectations are no different.
GLTAH and Management also. Catriona is not a bad person with a history of BS like so many directors in mining companies that continually pop up from that ST Georges Terrace address with 100 companies listed there......but she needs better guidance, advice and to know everyone must earn trust, even us.
Everyone want to see Flamingo succeed. But first it must learn to crawl, walk and run.
Best to all.
GG
CR8 Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
(20min delay)