I thought the deadline was pretty tight in NZ, especially if...

I thought the deadline was pretty tight in NZ, especially if expected to wait for the correct form to turn up in the post... Anyway, I took the opportunity when it actually traded cum-rights to get out with what little I had left...

I don't think they are a lost cause, but I definitely would not feel kindly towards giving them more of my hard-earned. Having said that, there is some reasonable businesses in there and it is an extremely cheap entry relative to sales, so they wouldn't need to get much right to get the price up... sadly, I don't think they're operating in shareholders best interest and need a change of management for anything to happen.

I have relegated them to "trash trade only" territory - and they don't have the right mix for a good trash trade at present, as they need more liquidity and a trigger. They are more likely to find ways to make money from the business outside of the market view than through some trash trade pump and dump. They got their strategy approved by a narrow margin at the agm enabling them to sell off half of the shares in each underlying business which will make the whole structure rather murky.