RCR seems to be a leaky ship as far as information is concerned. Look at the increase in short interest in few days before TH. https://www.shortman.com.au/stock?q=rcr. This is totally unacceptable for an ASX listed company. Somebody outside the company knew something, or alternatively insider shorting? Hope ASIC is watching?
Looking at the balance sheet, as at 30 June the audited financial statements disclosed shareholders equity of $380,915,000. This was after the provision for losses on contracts in progress of $60m.
The issue should only be funding. If the assets were incorrectly stated at 30 June 18 then directors and auditors will be deep in the brown stuff.!
RCR Price at posting:
87.0¢ Sentiment: Hold Disclosure: Held
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