Ann: Capital Raising and planned appointment of Director, page-6

Mountcastle made 1.6m profit in the latest half year, which includes only 3 months of their LW Reid acquisition. On an annualised basis, the profit should easily be 2m+. Gearing should still be fairly reasonable on Mountcastle because afaik they started off with little/no debt before the Reid purchase.

I don't care if the other 4 businesses are insolvent. Dispose of them, pay whatever wind up costs are involved if there no buyers, and just focus on Mountcastle. You can't tell me a business making $2m+ a year is worth <$20m in market value.

the $2m head office costs can probably come down quite a bit imo, and the new chairman will probably see to that.