It's the dividend/income players selling out. TCL went the same way when they decided to stop deluding themselves and pay dividends out of cash flow. I must say they handled their news better than these guys but it was still a nasty surprise for the invetors who had bought the stock for a the income stream. From memory they reduced their dividend from .28 to .11 PS.
FYI TCL has been one of the better performing stock on the ASX since they did their capital raising/dividend reduction.
CP2 involved in both of these plays - if they are paying 55c it's worth at least a dollar!
CEU Price at posting:
43.6¢ Sentiment: LT Buy Disclosure: Not Held
