Investor presentation from 22. Aug 23 stated on page 15: • 25 of 52 impaired CY20 centres exited to date • The remaining cohort have overall improved performance and are now part of BAU network optimisation
One could say that Business As Usual network optimisation does not imply to shed 31 centres at a cost of $26M In particular when investors are told that all of the remaining cohorts have overall improved performance. A lot must have happened during the past two month for the pendulum to swing. If this plan was already in progress (due diligence) at that time, it would be a clear misleading statement.
Anyone else seeing it that way as well?
GEM Price at posting:
98.0¢ Sentiment: None Disclosure: Held
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