Ann: Half Yearly Report and Accounts, page-43

Breached their banking covenants, that's big. Having to reduce debt to $90m by 31 Dec likely means another fire sale of an asset as cash flow won't get them there. What will they do/sell to meet the next debt repayment? No headroom in their securitization program. Look at exec salaries/bonuses, gone up exponentially whilst share price has plummeted. Look at exec shareholdings, almost nil. Apart from Marshall departure the board is showing no sign of addressing the issues/people responsible for this erosion of share value.