big move 29/8, page-2

Ranger, the market liked their annual results. While they reported a loss, this was as expected & had been built into the SP when it had the big fall.

The positives were that their debt has been well managed, restructuring has been accomplished which will help the bottom line over the next 12 months, cashflow increased significantly. And overall the SP has been significantly de-risked.

With a positive outlook for the next 12 months, basically a re-rating over the last few days.