Capital Raising, page-91

Gives Crescent all the more reason to try and drive this back into a respectible position. They have shaken up the board who are no doubt shaking up management. Crescent are well and truely "in" and so they now need to bide their time.

I like it when you have board and management focused on share price rather than their egos and in this situation it is share price and share price alone that Crescent are interested in. At least we have alignment between their interests and ours.

I am about to initiate a position on the stock for the above and also after some DD in recent weeks. Balance sheet is largely de-risked with this capital raise and they should be able to deliver solid amortisation of the balance from cash flows. I think we are close to the bottom share price wise (so should be little further downside risk), but if they can start to rebuild their EBITDA margin then we should see some repair to the share price.

Just my musings - DYOR.