I think shareholders are well within their rights to be looking at a class action after this behavior.
The ink on the capital raising isn't even dry yet and they pull this nonsense. Information provided with the CR confirmed they were a renewable energy company with a tonne of project wins. Raised funds were to bed down these contracts and ensure profitability. Then today they sell off the arm responsible for any revenue. This flies directly in the face of what they spruiked during CR.
You can't hold it against them that they didn't announce this arrangement at the recent CR roadshows as it would have been commercial in-confidence at the time but you certainly can't continue to push the "renewable energy specialist growing revenues" narrative if you know you are about to lop off that part of the business.
CCE Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
