Its the 3rd day since the amount of the missing funds have been disclosed and the share price has held up well considering the media coverage and potential uncertainty. 11c is actually up from the day before the announcement when 10.5 was the low.
Its appears that the company has been able to obtain a legal caveat over properties owned by the former CEO in quick order. A caveat is not issued lightly and certainly not without substantial strong evidence when issued prior to a hearing and obtaining a judgement from a hearing. It does appear that there was probably no defence to the application which is a good sign for recovery.
Selling volume has been light so the insto`s holding shares have either decided to hold or not made a decision yet.
Personally Day 3 after an event is an important watching day for me. Reality and not emotion starts to show through. So far so good.
Now its over to the company.
day 3
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