Ann: Corporate Presentation, page-246

seriously the list would be 10 times longer of companies that failed or simply idled along seemingly just to exist to employ over paid management. Given SEA has destroyed SH wealth for many years one could argue they fit into one of these categories.
Of course most of these sort of companies do the odd capital raise to bleed the faithful in th hope the company will one day reverse the wealth loss.....this scenario would be familiar to SEA SH'ers.
Also a classic sign that things are not going well for a company is the level at which they can raise new capital and the interest shown by investors......crickey only 14.5% of the available retail share offer was taken up at the last cap raise.......probably a good thing given those that stumped up are now sitting on losses of 40%.
Mind you that is somewhat better than the losses of those who participated in the cap raise before that.....they now sit on losses of 70%.
I wonder if the investors in those cap raises thought the past did not matter as it is all about the future prospects.