spp->price->future, page-3

Rocket man; you obviously have lost lots of money on this stock, so your angst is understandable.
What I don't understand, is your vendetta against Coote and his management - but if there is something out there that needs to be told , I am sure forum members would be very interested to hear about it. Put up, or shut up!

You may yet, get your wish: Mr Coote's shareholding has been diluted from 51% at the initial public offering down to one that is roughly on par with Elphinstone (around 20%???). Combine this with the 6% holding from the private equity trust, the two could combine and roll him at any point.

Incidentally the fact that PET has seen fit to top up and dollar cost their holdings down has to be seen as a positive.( their initial investment was as a sophisticated investor at $2.40)
Similarly, Dale Elphingstone is no mug and has obviously run the ruler over this company and likes what he sees. ( both parties appear to be passive investors and don't seem to have a history of installing their own management!)

Mike Coote did a terrific job of building this business from scratch,but he has been well and truly shafted by the events of the past couple of years.
Management took on too much debt at exactly the wrong part of the cycle and have been squeezed accordingly. However, it must be remembered that debt financing was ( and still is) considered good debt if it is, in fact, garnered to grow a business. Unfortunately , they have not had the support from their bankers (or their shareholders!) - similar to the experience of many medium size enterprises in the past year.
The synergies associated with the ongoing rationalisation and combining of all the different businesses, the solid underlying product offering of this company and the overall enhanced outlook for the economy should see it return to profitability.

The debt reduction proposed from the sale of South Spur and Greentrains would be an added bonus but, as long as the banks aren't bastards, and refinance the debt now that debt covenants are back in order post the latest share offering, retention of these assets might not be such a bad thing, especially if they are to be sold at fire sale prices!!.

All comments and feedback welcome!