Management incompetence of CPR is now beyond belief....I say incompetence cause it does not appear they are dishonest...
However, mgments sale of their own shares to instos around 50cents few months ago now looks very dodgy indeed....
Will anyone believe them again? Whatever the matter, it will take a long time for the share price to reflect the 'trust' of a real operating enterprise....
The potential turnaround value of this sucker is still there......if mgment is competent enough........
Most of my shares were picked up at 8 cents last year and that was before they discovered 20 mill under the mattress
The potential is still there for this is a solid, good retailer....but not great obviously
The turnaround potential will surely now to diluted by a distressed capital raising........as the banks are right now asking for 'their money back'
Investors who want to stick with this story, should preserve their funds for a rights issue at some ridiculously low price..........shareholdings held before this rights issue will be diluted to the sky.......having said that, the company will not be lack too much capital......the future is completely tied to consumer sentiment and housing cycle.......Does not look good right now
CPR Price at posting:
13.0¢ Sentiment: None Disclosure: Held
