re: Ann: Update on Strategic Review of Retire... just did a bit...

re: Ann: Update on Strategic Review of Retire... just did a bit of research on these yest to see whether to ditch or buy more or hold - lots of potential but lots debt still and lots of confusion - too busy and complex i thought and a finger in too many pies in the property and development division!

margins are skinny and given share price and economy weakness, a marginal profit or a loss would not be a surprise - some covenants to watch ( that they have declared!) especially gearing and perhaps interest cover if the report is not good- int rate swaps may have more mark to market losses also - i hope the 80%presales they were skiting about on one or two apartment projects do hold! i believe i read they sold a fairly substantial property lately (not disclosed to asx so whether it was held in one of the funds??)

today they are talking of simplifying the structure to some extent but also talk of other health services!! definately would have to have a demerger if they were going down that route!!

still got to be some value in this stock despite some misgivings and many things i would not know about them- both positive and negative!