re: Ann: Completion of MEO Australia Share Pu...
Hi all, Have been a sporadic MEO watcher for 10+ years. I look in occasionally and am staggered by what I now see.
There is, unfortunately, no way this coy can survive with its current cost structure. $7.5m admin last year; no change from $6m this year! For a $16m MC coy, that has to be the worst expense to MC ratio on the ASX.
A $2m raising, directors chipping in $15k Vs a Director and senior management wage bill of $2.6m?? This is grossly inadequate on several levels
I very much doubt this XOM board has the b*lls to cut costs by the 50%+ that this coy needs to show the market.
GLTA
MEO Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
