relisting, page-31

I consider it quite a serious issue that MFS has not yet relisted, and will only (hopefully) do so pending its "strategic review, including a review of its operating and financing structure". Why?

1. Creates doubt that the sale of MFS has in fact fixed up the company problems (noting that contingent liabilities might be evident from the NZ arm);

2. I would have thought that while looking to sell Stella they were also looking into the business's financing structure. That a review is ongoing means there is doubt that this has been sorted out;

3. It is a clear acknowledgement that MFS as a brand has suffered severe damage, and is nowhere near the business it was a month ago.

I am NOT saying the the immediate issue with Fortress has not been solved. Clearly it has. However as I have previously stated the FM side of things is hard to quantify. Even the company at this stage appears to be struggling to work out where it stands from a "do we still have a viable business" perspective.

MJS