Markets do not like uncertainties. This uncertainty started around Feb/ March 2019 and continues. Until the decks are scrubbed clean and all of the bad news has washed through the P&L, that is the full year 30 June 2020 results at the end of August 2020, the share prices will be weighed down by that uncertainty. Then there is the question of quality of management. Management did this dud deal, knowing (or should have known) what they were getting into. A HC poster here 9 months or more ago drew attention to the Sandon 'form' regarding purchasing deals. It seems management were so enthusiastic about getting rid of the Trustee business, they took the company down this 'blind ally'. And here we are today, with continuing uncertainty. It will take until August 2021 results announcement for investors to become comfortable that the existing management have what it takes to grow what remains of the business.
