General Chat, page-41

As an MCL shareholder, I am encouraged to read today's company update and strategic review with comments by incoming Chair Chris Malcolm. For the company to finally acknowledge they are carrying too much debt relative to the size of the company. Also, they have finally acknowledged the huge staff costs and corporate overheads relative to Revenue. The fact is, the value creation and synergies of being an accelerator to the craft beer industry have not materialised.

Contributors to this thread have highlighted these issues for several months now.

That said, I see no other way to reduce debt than via another capital raise (that would further dilute shareholder value) or sale of a larger asset - most likely the stake in Better Beer?

I doubt today's announcement will shift sentiment toward the group but with the SP languishing at 11.5c (down 77% since IPO) it cant do much more damage.