This disaster has been really staggering, almost unbelievable in fact. Despite desperate market shortages of plasma and consequent price increases over a protracted period they still couldn't make it work. They couldn't make simple clear reports either. There is now no continuity in management, the earlier directors and senior staff having all resigned. Giving the company to your chief customer to manage is a complete capitulation. After the proposed five year window there will be nothing left. It just allows the old directors time to distance themselves from responsibility. We still don't know what went wrong except that they drowned in a hidden debt. Even as recent as the Nov 07 shareholders meeting the directors agreed to make the PWC valuation available at the same time as the final terms of the Kedrion take over (to be voted on Feb last). Did the directors honestly not know the status of their debt and assets?
Some of the long term holders seem to have just dumped their shares in disgust this week. It would have been brave to buy at 5c, and yet I haven't sold!
What can the trading halt mean? A statement of valuation, or a statement of insolvency?
Juke
LFE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
