I dont want to be a conspiracist but could Mr Shen be selectively dealing with inventory etc to get a depressed mark to market p/l so as to not have to up the bid? We have to wait and see the accounts in August or thereabouts - ' I am very sure the bid will progress after all he's getting the company at 1/2 price and by their own admission margins are now improving again.
The p/l will pick up as China primes their domestic consumption over the second half of this year.
MES Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held