restructure

For all his prowess as an investor of Reg Grundy's float back in the day, Tim Hughes must feel a bit embarassed by his operative abilities when he recruits Philips and the guy turns around and suggests a total clean-up of what he obviously considers a bit of a mess.

I'm spewing about the dilution that's about to happen and of course also that this years earnings are now looking dubious, but am optimistic that Philips has more than half a brain and some positive plans for the future.

Not sure how keen these insto's that participated in previous capital raisings are going to be, though.

I reckon Grundy would be boring it up Hughes right now.