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clock Created with Sketch. 22/09/17
15:54
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Originally posted by AllFuelledUp
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If I were a NED there is NO way I would let this come back on and trade, only to see a NTA come out later different to what had been previously stated. Now there's a guaranteed law suit. The NTA will be different which is why they have instructed 2 independents to review it and I assume why KPMG can't sign off on the FYs. They have had a bid for a significant part of the portfolio and it is being valued. It just took ridiculously long to get the new directors and appoint them, that's all. And the silence about the trading portfolio has enraged many, fair enough. I expect someone is dragging a chain waiting for a corn to pop or something in the wind to be locked down. IMO that's the Amex thing because we haven't heard about that settling yet. Personally, I'd rather wait until that is locked in- or officially out- before coming out with a half chewed NTA impacted by another acquisition settling. If they do secure Amex my observation is that they have cornered the local currency exchange market. That is like in Monopoly when you own 1 Utility you get 4 x rent but if you own 2 you get 10 times every time they land on one.
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Sorry but thats BS. As a former auditor the audit would only impact the NTA if it remains misleading and the Directors refuse to budge and the auditors qualify the report (= we are all screwed). Assuming BDO is done the NTA must be relessed as promised. Im livid.
