The recent announcement includes the following:
"OnCards China operations in the half year have included the acquisition of Bill-to-Bill and acquiring an additional 31.2% equity in Beijing All Payments Company Limited, taking the OnCard investment to a controlling interest of 80.2%."
How come there was no announcment that it was now the majority owner of BAPCO, when it occurred? I would have thought this was a market sensitive development.
On the issue of borrowings (referred to in previous posting), I would have thought that it warranted a financial note in relation to who is the source of the funds and what interest rate is being paid.It wouldn't have hurt either for some guidance on what the funds are going to be used for.
I am back to being concerned about this company's ability to communicate with its shareholders.
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