I expect G8 would be seeking legal advice on some of the comments made in Affinity's Target Statement.
In defence of G8s occupancy levels reported to December 2014, their format is to only report when centres have traded for a full calendar year, this is explained clearly and the occupancy levels in that report did not include the Sterling Group purchases.
If another experienced childcare operator does not takeover Affinity, nothing will change. As I've stated previously G8 know exactly how the occupancy of some of these centres has deteriorated since Affinity purchased them. G8 would already be looking at their area manager allocations for the group and be setting expectations for improved performance. The directors of Affinity are also fighting to secure their own positions, it's been 'a nice little earner' for some of them and their 'related interests'.
"1.10 The husband of one of Your Directors, Ms **rielle Giufre, is involved in a potential alternative proposal that Affinity is currently negotiating with interested parties." More of those related interests.
GEM Price at posting:
$3.20 Sentiment: None Disclosure: Held
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