They say the problems started in October 2019 when the "reset" process ended and the client stopped paying.
6/11/19: at the AGM the Chairman lists as an "operational highlight" the "growth in New Zealand including a $185m multi-site corrections project".
6/11/19: also at the AGM the MD refers to "contracts successfully executed for ... the Department of Defence ... in New Zealand".
12/12/19: Decmil announces problems at Sunraysia but nowhere else.
23/12/19: Decmil announces the sudden departure of the CFO and for the first time alludes to problems in NZ. It says the "reset" process ended in November 2019 (not October 2019 as now disclosed). It says it expects "no material impact on its earnings" as a result of the NZ situation.
24/2/20 and 25/2/20: announcements co-signed by a new CFO who hasn't been announced to the market (nice job he's got) says that a single letter from the NZ client following problems that have in reality been festering for 12 months or more pushes back the entire half yearlies by 2 weeks.
How does the CEO still have a job?
Oh, that's right...
Ann: Suspension from Official Quotation, page-6
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