I agree. I think the commercial strategy is the right one and I felt encouraged seeing it clearly spelt out.
From reading the chairman’s address, I am also now willing to accept that this is an ATO delay and not slackness (or an ulterior motive) on the part of Otto - at least from January onwards. It is a bit of a worry imo that they’ve had to go to three different tax advisors for help - it suggests to me that there is a fishhook of some kind that we’re snagged on. I just hope it is not an historical tax liability or anything untoward that has emerged from ATO’s examination & review of the company’s tax affairs following the application for a ruling. And if it is, let’s hope it’s only minimal impact. We really need clarity on this and an outcome - waiting more than 12 mths for a pretty straightforward ruling for a relatively small company like this is NOT normal.
OEL Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
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(20min delay)