Ann: FY13 Interim Results Presentation , page-24

Benson is right - there are some very sound parts of the business that a competitor may want to get their hands on.

An acquirer though, would be happy to wait for either

a) administration and then buy the assets they want or
b) a cap raising that lowers the sp and market cap yet further.

The second is difficult for ASZ. Credibility is lost with the investment community, so to ask for more money will be difficult to get. To get the cash, the discount will be large.A raising at 20cps is not out of the question.

A third option is for the acquirer to purchase the company at 20cps. That way, a whole lot of angst is saved. The board may consider a low price better than admin.

HT1

P.S. I nearly bought into the company at about $1, but something stopped me.