Is it not possible that people who are financially literate read the company's financial statements and concluded that the company was excessively geared which would inevitably require the issuance of additional equity?
You didn't have to have inside knowledge to form the view that the company's management had over-committed the balance sheet; you could simply have worked it out using a calculator.
After holding ORG for many years, I sold my stock some time ago for the very reason that I came to the view in 2011 that the board was being reckless in pursuing growth by taking on a project that was too big for the company which would leave the company over-indebted and vulnerable to poor execution on that project.
So should I now be investigated by ASIC?
ORG Price at posting:
$6.10 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)