Gleneagle, page-25

On the 9th you had a buy sentiment and were telling us accumulation was occurring and an announcement was pending. There was an announcement and then selling on the news so the accumulation was clearly short term traders hoping to make a quick buck. You told us the next day that you sold and the stock was a dog going to $2. I’m not sure that gives you the credibility to accuse Goblin of ramping.

Perhaps  you thought the news was that bad that you changed your sentiment from buy at near $4 to sell at $3. Either that or you had a buy sentiment while wanting to sell on the news and now you want to buy as low as possible. If the former and you’re not just down ramping now  to buy back, can you explain why the trading update has changed your view so much? The way I see it, initial sales from Bricks and mortar were good and would have been much better if JB reordered well before Christmas when stock was running out in many stores instead of after New Year and with Europe confirmed for this first half calendar year, sales will get a big boost this financial year over and above Australia and NZ sales. Australian sales have shown nothing but compound growth quarter on quarter and much stronger growth in the latest quarter with bricks and mortar sales kicking in. How do you see it now?