February guidance already implied a massive, massive second half skew..........plus now CEO who had all the relationships over the past 15 years has resigned immediately......plus new Chairman who had the financial "nous" stepped back immediately.....new CFO and new CEO when he/she arrives would be crazy not to re-base. Kitchen sink....or even just reset to more reasonable levels implies a decent downgrade. Worth noting 1H19 result was very aggressively stated (gross operating cash flow was actually loss making!!!!!!!, pretty much first time EVER) so it is likely in the 1H this was a people business imploding.....and now the key people are officially leaving.
Ann: Resignation of CEO and Changes to Composition of the Board, page-10
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