Time to get your cheque book out and get back in. British Gas...

Time to get your cheque book out and get back in. British Gas doesn't stuff around with also rans.

I don't think so mate. I could make a few bob by buying back all the shares I have sold, but not at the current price. Under a different management, maybe, current the current board, no way. My issue is not with the asset of the company, but with the destruction of shareholder value by the management in diluting our holdings at all cost.

As of the last qtrly cashflow report, they had 17mn in cash, with expected outflow in the current qtr of 8mn - which would leave them with cash holdings of 9mn. Why would they need to raise another 6.7mn at the depth of the market freefall? Worse still, they did it without offering current holders the chance to participate so they don't get diluted.

VPE holders should learn a thing or two from this article...

http://business.theage.com.au/business/what-goes-on-behind-closed-boardroom-doors-20090108-7cwx.html?page=-1

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