bugger, page-16

At first I also hought 'bugger', not so much for the write downs, but because there was no mention of progress with asset sales, negotiations with the banks etc. Has everything fallen in a hole?

Then I thought, with 2 weeks to go before the 27th, if a positive announcement on the refinancing is going to happen, they will want to have 'cleared the decks' regarding write downs before they recommence trading....it would be a real bad look to dump this announcement on the market after trading recommenced.

So....dunno, but I'm inclined to go with the second scenario.