With the exception of the takeover offer, the rest of the news...

  1. thedrbill
    560 Posts.
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    20/04/09
    10:19
    Post #: 5028967
    With the exception of the takeover offer, the rest of the news is awful.

    - Distribution suspended to conserve cash
    - Potential cap raising or asset sales
    - Suggestion that debt facilities will need to be repaid by July 2010 (61m)

    I see these factors as essentially killing any t/o premium. Pre-open price has dived.

    Disappointing announcements to say the least; it looks like management was waiting for some "good news" to provide coverage for less apetizing revelations.
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