Hello all
It appears they are "preserving Capital for any potential future problems on the Banking side (GFC)".
You have to remember that the present CEO is cleaning up the "mess" that was left by the previous CEO, Mulcahy, (who got an unbelievable multi million dollar payout for his ineptness, through poor Directorship from the Board imo)
Also there was a share dilution through a Capital Raising.
There are some tenders falling due with the Workers Comp. side of the Business in the next three mths. How successful they are, maybe an indication of perceived confidence in the Company overall.
atm the Company is worth closer to Seven dollars than Nine, NOT allowing for a buyout premium, with a breakout of the Business.imo
Better times ahead?
Sm
Ann: Market Update , page-12
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