could one of you please fill me in on what the article actually said. I am overseas and do not have access to the article.
I am not surprised that Redbank has had to take the action they have with the bank. If you were the bank and you had a dodgy loan that was actually performing and continuing to reduce your exposure you would continue to string them along while you were getting paid back. The banks position has continued to improve while ours remain the same. I don't think they had a choice , but still wonder if the bank will bother to do much. After all the money being withheld will still belong to the bank . It would take a serious threat of putting the company into admin and destroy all of our equity and a large chunk of the banks money
I am however disappointed in reading the directors fees and bonuses . I feel this has been hidden from us as they previously had stated they were working of peanuts( accept the MD of course) I felt more confident when there return was soley tied to ours , ie restructure , resolution of the power plant. Now I don't see they have as much to lose which worries me.
AEJ Price at posting:
$8.00 Sentiment: Hold Disclosure: Held
