Blokes just my honest opinion. I actually feel sorry for Marcus. He came in to try and fix some of the more obvious issues with CAS such as Admin costs but it really was far too late for him to recover. Investors want to be apart of winners and winning companies. By the stage Marcus came along, CAS wasn't on the nose -- to possible investors it stank! The Stratex bloggers are probably having a field day at the moment with Marcus's resignation, I've never been a fan of anyone punching down.
The way this CR is set up, you'd assume Stephen Copulos will get the bulk of the new shares. I can't see the share price EVER getting back to any meaningful level with this much dilution. Which is no longer a shock to anyone, we all new it was coming. It makes that analysis report 12 months ago with a price target of 21 cents (memory) a bit of a joke. What was actually laughable about that report is that they didn't include any dilution in twelve months. I think at the time there were roughly 300M shares (memory)
Err, lastly, I saw one of those final, umm, thingies, notices for Paul Stephens recently that Directors do before departing a company on declaring how many shares they have. I've only now followed that though since not seeing his name associated with this last ASX announcement. I just checked the CAS webpage and can't see his name in the board or management list. That's actually biggish news if Paul has left. I wish Paul well, but unfortunately he was a big part of the management team when CAS lost it's credibility. That "team" needed to be purged if we are going to regain some respect with potential future investors. If Stephen Copulos is now calling the shots that may be a good thing in that this guy has lost Millions of dollars in this company. Nothing drives an individual more than wanting that money back, or to at least to minimise loss He will be driven to try and get this thing back on track.
CAS Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
