What a disaster. The incompetent CEO and Board have made a loss selling assets in the hottest busines segment, renewable energy.
The media advisor penning the ASX Annoucement Headline: Successful....
should read the Oxford dictionary instead of gazing at her navel.
NEW is an unmitigated disaster. When it was first promoted it was based on 15 year PPA's (Purchased Power Agreement's). Then magically 18 months ago the genius's at NEW failed to convince the auditor that NEW contracts should be based on 30 year forward prices for electricity. What a ficking crock of shite.
The CEO of NEW should resign immediately. ASIC the toothless tiger should investigate this abusive loss of shareholder capital.
Ann: Successful Australian Asset Sale, page-2
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