completely hopeless company, page-2

In ENG defence, I think they are turning the ship around. The 09 report indicates this quite well.

Also, again to their credit only 1 of the 4 directors take any fees from Engin, this is unusual and admirable.

As for recovering from present levels to where you bought in, this will take a lot longer unfortunately.

Of course the share consolidation is another thing entirely. I have no thoughts on whether is will be good or bad long term. Personally, I think a 50:1 is way too high.

I have been saying all year that Seven is a predatory shareholder who I believe would be quite happy to own 100% of ENG for as cheaply as possible. If I stay with that line of thinking then I can only assume that ENG expects this move to see a rapid fall in SP post consolidation so that they can buy it cheaper than present levels.

I really do not know and I am not negative about Engin's prospects as a company but I am concerned that non-Seven shareholders may be getting lined up for a direct hit.