Ann: Change in substantial holding , page-102

What will they use for SECURITY then?

Their cash in hand? they dont have any...
Their assets? most have been sold...
Their profitable work in hand...no contract announcement for more than 18 months...
Their robust balance sheet...pfft

The only possible security available to them is Director's assets, because as I have heard many many many times before, the major shareholders are very wealthy.

As much as you would like to think the Directors will stump up millions for first call security, you simply dont know. You are guessing and hoping they will. This is HIGHLY UNLIKELY to happen. I have NEVER seen it happen on the ASX, and I would like to hear from anyone who has seen it happen for a publicly traded company. The main reason people do business though "limited" share companies is to protect their wealth, not expose it.

As I have said before, even IF the Directors were willing to do this, finding an "acceptable" (meaning one that a Client is willing to accept a guarantee from ie. not an overseas bank) financial institution willing to participate will be almost impossible. Security is one thing, balance sheet strength and work in hand are also a huge part of the assessment process to secure a performance bond.

If the directors were so willing to put up their own money, they would be better off with another CR (as I have also said before - sounding like a broken record now).

In response to this post, please stick to cold hard facts, not innuendo, guesses, unsubstantiated facts or irrelevant references to Chinese associates, or unrelated mega-projects.