apples, they have had months to get their butts moving on asset...

apples, they have had months to get their butts moving on asset sales...groups were touring the power plants early in the year, and still no deal....give me a break!!!!

In that time, there have been 2 big profit downgrades, with their ebitda barely covering interest directly...not good

Also, they think that the fact that they WILL go into breach of icr 'shouldn't' impact on them....why not???

The banks will ask themselves 'well, you have had 2 profit downgrades, you are paying 8.9% interest now...i think we will call in the loans'....

This takeover should have been done 2-3months ago.....management have a lot to answer for, they are NOT working in the interests of shareholders

even a sale at 19c would have been better than the endless crapola we have had to put up with over the last few months



Saying all that, i really do hope it works out for all holders, but banks being banks, they are looking out for number one and are looking at things in a cold business sense