BNHI agree that the NEW mgt team are staring to do 'something'....

BNH

I agree that the NEW mgt team are staring to do 'something'. Something that has been missing for a long time IMHO these chaps are still a long way from Damascus and i would not be betting the farm on a recovery.

Based on your figures (and the ones you ommitted, like the one off restructuring costs) they are a couple of years away from a secure footing, during which they will be at the mercy of the banking syndicate.

I do believe there will be a rights issue not unlike that at BLY (which i think we both did well out of) the only problem is the SP will most likely trade down to the issue price, so a reasonable man would ask if you are certain this will happen why would you buy now?

You will note my 'position' has changed and before you start speculating i am shorting (again) this is a small holding as i can't easily get to the casino and i am of the view that the sp has bottomed and will/could bounce from here.