hey all. its seems the consensus is that the annoucement was...

hey all. its seems the consensus is that the annoucement was "fantastic". i wasnt that moved. i thought the announcement was fair, if not a little unclear.

we all knew that the $14 mill was going to be used to repay debt. Nothing too exciting about that. Lets not forget also that this money was received as a consequence of cus running back from china with its tail between its legs.

Correct me if i am wrong however CUS lost money on that venture. I fail to see how thats great news. The value of my shares were diluted to fund the venture and CUS made a loss. Thats not value creation. In fact we should be pretty annoyed about that.

I though the announcment could have been more clear about changes to loan arrangements as well. If the loans have to be reveiwed because a covenant concerned baker etc remaining in management then just say that please.

In this environment, nothing short of crystal clear in terms of advising about company debt arrangements is risky business.

That being said i read into that ambiguous message that as a result of the reveiw, CUS will be paying higher funding costs, but may have increased flexibility to pay down the loan. 6 of one, half a dozen of the other. Probaly no great benefit there.

As to the M&A activity surrounding cus's atm manufacturer. Who cares. I presume, subject to contractual arrangments, we could buy ATMS from whoever we want. All cus should be concerned about is buying/leasing the best ATMs at the best price.

As for other bank arrangments and atm deals, the volume of the deal is hardly worth getting excited about. That being said it still a positive announcement. Better than losing clients eh?

What annoyed me about the announcment was the lack of detail about transaction volumes. Sure we will get that at the end of the month but what then was the point of the announcement? Given the reduction in transaction volumes over the last year, surely that should be one of the key components of any update should it not?

As for SPS developments, uuumm shouldnt there have been an update about the whole fleet being trasferred over??? How overdue is this.

The only real positives I saw was the nab exec appointment and the mention of reduced costs and greater efficency.

Sorry to be negative however i thought i should put a bit of perspective. Bring on the details with full year financials please.