archie88, the board of BCS is only interested in looking after...

archie88, the board of BCS is only interested in looking after one thing and that's themselves. They want to keep enough in reserve for their own redundancy payouts in case they run into a big hole with their finance or equity raising.

When the share price dropped below 10c Trevor Rowe and crew hit the PR trail stating how cheap this was and that there was a 5.95c distribution on its way. Obviously the only way the share price was going to go up was if new investors jumped on board. Once these new investors were signed up the Company promptly decided to pull the rug out from under them, questioning their motivations.

I can just imagine Trevor Rowe and crew down at the docks in the 19th century signing up sailors for their ship on the promise of great pay and adventures. Once the ship leaves the harbour the sailors find out they've been tricked into a life sentence.

The Company's announcement today states "BrisConnections is concerned that some of these acquistions may be motivated by the disparity between the current unit price and the anticipated First Distribution." Hello, this disparity didn't blow out until Macquarie started unloading and scared the beejesus out of every other investor.

In my opinion the debacle in recent weeks is entirely down to Macquarie. When short selling was banned this thing was trading on very low $volumes. Macquarie could have easily supported this thing at around the 6c mark without a massive investment.