Navy There challenge will be to put enough financials in the prospectus to enable current shareholders to make an informed decision. Problem is the nature of the business is not conducive to earnings clarity. What wi be the motivation for SH to buy. It seems to me there is too much negative press and too many current shareholders unwilling to participate for the 60 million to be raised.
In relation to private equity, to make an 8 cent bud for the company would imply them taking on all debts, which means the pay over 100 million. Why wouldn't they wait until it goes into administration and the buy the choice business off the bank. After all the bank will only be looking for enough to cover their debts.
Their only salvation would be a big contract win, which in this situation has become extremely unlikely.
Still seriously believe a class action is the way to go. They had a quarterlyloss of 6 million, this should have been made public early OCT or as soon as the accounts were finished. The released it two months too late and then only by force as full disclosure was necessary for the proposed cap raising
NMS Price at posting:
8.4¢ Sentiment: Sell Disclosure: Not Held
