Yes, a $4 million extraordinary (non trading) provision it not...

Yes, a $4 million extraordinary (non trading) provision it not such a big deal, since the profit is still nice.
However several questions need to be asked, why to pull the dividend ? what is the size of the dividend cut this raises the issue of the cost of capital and the health of the balance. Small cut no issue big cut why? TGA is a finance company in the end.
The other questions, reorgansing and cutting stores , is a restructuring excerise, altering the business model. There is a better way informing the market of a repair job. In addition another question is management , are they able to undertake and excute the repair job.
In other words to me this is what is damping the share price, uncertainty of altering parts of the business model.
cheers