While I am glad this decision has been made, it is annoying that they have pissed $30+ million up against the wall without any exiting benefit such as a sale. And now we are told exiting will cost more precious shareholders' funds. Oh, and without a hint of sorry, we got it monumentally wrong! I don't think they have enough capital, and unless the Australian operations are generating sufficient cash to cover the merger costs, I see another capital raising on the horizon. There are too many managers in the combined company. We need to shed people starting today. Frankly, I would rather they looked for an exit strategy instead of trying to be the hero and grow in a crowded business environment where government and social policy are working against you.
BBT Price at posting:
20.5¢ Sentiment: None Disclosure: Held
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