Was an ugly read really, many positives but certainly not for the H2.
Another $3.4m of payments set aside and now saying they are expecting an ASIC penlty but not providing a provision
Don't be surprised when that turns into Millions.
Wouldn't be surprised to see $1.50 again very soon
Also good luck to them with the lenders trying to roll over $30m of debt in January when they are expecting an unknown size penalty from ASIC, muppetry at it's finest IMO, they have definitely been in discussions about the possible amount and have chosen not to give guidance or provide a provision.
CCV management did both and the penalty was incredibly close to guidance(less than .5% off).
Real chance of a capital raising if this isn't rolled over or another division sold:
"Thorn Trade & Debtor Finance is repositioning its business to have the brand, capability and systems platform in place to grow market share as the market undergoes a period of consolidation."
May aswell say they have the sale sign up LOL
Key phrase being "as the market undergoes a period of consolidation"
Good luck tomorrow holders, I don't think it's going to be recieved well by the market.
Ann: Half Yearly Report and Accounts including Appendix 4D, page-3
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