Trading Halt: Why there was none?, page-344

Evening All,

Whilst I like this stock and support management generally, I for one am disappointed in the lack of a pre-planned trading halt. I think this is poor management IMO - not from today, or the weekend, but it should have been prepped from day 1.

Basically, if the tender attendees had information that was not publicly available to the market (which they did), then they should have halted for market today until the tender result was known.

If you are unsure if this was the right call - look at today. That's proof enough, and we all knew it prior to auction, so management should have too.

Disappointed. I'll be raising at AGM if nobody else does (although I suspect there will be a queue).

Notwithstanding, the only positive is that I think we have shown where the floor is based on panic. We sold hard on open to 9.6 and then bounced. I suspect even if the auction outcome is bad, we'll settle at 10c at worst. A few weeks back, I'd be celebrating 10c. At a reasonable auction, we'll be back to 15-20 and onward from there.

Another learning for the team from the auction.

Cheers
Capt.