re: Ann: Chairman's and Managing Director...
Chris, as per announcement by tim wildash at agm and stipulated in report, approx $3.2 mill already reduced. sub-total= That leaves $6.8mill oweing. There was a good crowd in attendance at the agm and i spoke to many of the shareholders and most spoke of a rumour that a further $5mill may be currently being obtained from bendigo bank as a loan which will be paid by way of SPS shares handed over to bendigo bank as payment for the loan, by june - july 09. eg, half of SPS MAY be sold to bendigo bank. further sub-total= That leaves $1.8mill balance oweing which will be paid out of trading cash flow surplus, and or further asset sale., eg other half of SPS. The other rumour amongst the shareholders was that, The other half of SPS they may be currently negotiating with other buyers, and may sell to mastercard international, or someone else, and cus have a price of $5mill or more, for the other half . if it happens that would make $10mill or more they may get for SPS. an excellent price in my thoughts. i was only expecting about $6.8 to $7 mill. as announced they are trading above novembers transaction amounts at the moment in this market. And what must be remembered once they make an agreement with a merchant to install an atm say for a contracted period of say 5 years, cus has no opposition in that area, may it be a club , sporting venue, service station, food outlet, etc. according to other rumours i heard was that cus has already improved their current cash position to $2 million which is more than the figure announced for the year ended 30.6.08 so i dont see any problems at page 18
CUS Price at posting:
$1.00 Sentiment: ST Buy Disclosure: Held
