Pargolf,
Quite on the cards in my opinion but the big questions are Who and at what price.
Not a lot has changed with the fundementals of the company, apart from the sp, in the past 6 months but the sp has fallen markedly.
I was of the opinion that it was only the ANZ selling that stopped a takeover over at around 15c.
If a TO does not materialise then the only options open to the Board seem to be a capital raising in one form or another. My preference would be for a renounceable rights issue at around 8c, or where ever the sp settles in the next 10 - 15 days, possibly with a relatively long dated option 12/2010 at 20c attached.
Going to the Banks for finance at this time I think that the issue price would be around 6c.
I do not think that the Board can affort to put the company into virtual hibernation until this law suit is determined.
Any other constructive opinions out there ? Ken, yours would be particularly appreciated.
Best wishes,
TerryA
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