calling seats/clicks mkt control well i've been a long term bear on this baby (as many that visit this site know by now) for a number of reasons:
-debt levels in a rising interest rate enviroment
-eps growth hinged on water strategy
-? mark on some mgmt and related dealings with other listed entities
-future direction/ forward looking plan or lack of it
-continued issue of stock now approaching 1b shares on issue
-can they sell their auto divn when its a sector cleary globally and domestically out of favour - it might be a hard sell whih will further put pressure on fwd eps figures resulting in possibly more cap raisings
-will the take up of their new water poducts be as succesful as hoped???
bottom line... as a 'non holder' of this stock i don't see much of along term future in its current position barring some sought of white knight coming to the rescue or some reconstruction occurring
as mkts are mean't to represent what one person is willing to pay for something in return for what another is willing sell it for, the recent price depreciation should have had alarmed bells well and truly ringing @ seats/clicks mkt control and accordingly discussions with the appropriate parties should well and truly be made by asic,nlx and the broking firms concerned
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