Ann: Cardno 2017 Half Year Results Presentation, page-8

I agree with Tamz really, the business is looking stronger although again we have to squint through some fairly nasty accounts. Management has to be seen to do something, this one will get rid of the centralised management structure the next will bring it back.
Helps them feel important but I don't take much notice of corporate bullshit generally.
It's best to assume that Crescent is aligned with Crescent's interests. Raising so much capital did make the company stronger and cheaper - they said in the takeover that they would cancel the dividend and buyback shares. That's what they are doing.
I still have 100,000 shares and will continue to hold. I was pleased with the talk that restructuring is coming to an end and bottom line for me is that revenue is up slightly, which says that they haven't broken it (yet).
I see my interests as aligned with Crescent in that they are looking to ultimately sell the business at a good price. Private equity does have a (fully deserved) poor reputation, it's still a case of do as they do not as they say in my opinion.
If you are selling your shares we are interested in buying them back on market to cancel them (crocodile grin). This will be more lucrative than a dividend in the long term I expect.
It will be nice when we come to the end of the restructuring but turnarounds always take longer than I expect.
Encouraging signs, steady progress happy to hold. If the shares fall enough I may buy again, who can say. It's in the range of still cheap with the long view but not so cheap that I lose my sheet. Mostly holding long term once I have got in at a good price is the way for me.