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8.0¢ brierty limited

I'd say voting against the reneration package would be wise. No...

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johnmcgee

912 Posts.

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30/09/15

09:47

Post #: 16085800
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Originally posted by johnmcgee ↑

Ive seen a lot worse. I note they kept the same auditor which is very positive. Typically if a company is circling the gurgler, they change auditors (at a hefty premium) to avoid telling all the bad news and ensure the directors are protected. Brierty haven't changed auditors which makes me tend to believe the management are telling a truthful story. I'd imagine the banks are willing to negotiate given how much yellow gear brierty has that the banks don't have deeds for. I also note brierty can survive on a smaller working cap loan than they currently have so maybe they'll just reduce the working cap loan size.

I'd say the current share price is pretty reflective of the report. It always seems like construction is one of those industries where announcements occur at the pub and then on the asx.

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I'd say voting against the reneration package would be wise. No point paying management more than the shareholders earn!!!

BYL Price at posting: 25.5¢ Sentiment: None Disclosure: Held
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