I am equally perplex by the share price and given that I have lost a lot already was happy to hold a small parcel as a pure 'lotto' style punt.
There has been no news since the announcement on 3 August 2009 that an appeal has been lodged. Also if indeed an appeal was lodged then surely it must just be a holding appeal because you could not imagine MLS case on appeal fully set out and particularised in such a short time frame. No indication as to when the appeal is set down for directions or anything. Appeals take a while to get ready so it is not going to be heard anytime soon I'd imagine. There is no indication that it has even been listed yet before the Court. I am overseas at the moment but otherwise I would be calling MLS to find out whether the appeal has a listing date for directions or what is happening in this regard. Inteesrting to see whether MLS submits to a timetable for filing appeal books and submissions. Presume procedure similar to here in Australia then we can be confident that they will give it a shot and not later withdraw the appeal after further consideration of the matter. My concern is that the appeal might be withdrawn in near future with an agreement of no order as to costs on the original proceedings and the appeal. I have no idea what might eventuate really, just exploring potential options open to the company.
Any thoughts anyone?
MLS Price at posting:
1.7¢ Sentiment: None Disclosure: Held
