Ann: Change in substantial holding - Argosy, page-3

Im not sure that we have given the new management team a chance to deliver yet have we? How quickly did you want this to turn around exactly.

The Chairman has been in post less than a year, the CEO and CFO have been in place since what, July / August. As far as i can see in that relatively short time they have largely shut down the middle east offices and trimmed the cost base, repatriated any key staff back to Australia, cleaned out any issues in the accounts, won and announced a new deal with Ventia, given more realistic guidance to the market about future performance, gotten in much needed finance before they ran out of cash.

For sure they have been a little quiet and im not sure what they are saying on any investor tours to key shareholders, it would be nice to get more information. They also need to start deliver a steady stream of contracts if this business is to have any hope of dragging itself off the floor. However dont we need to give them until at least the half year trading statement before we condemn them as failures?