I hope the old plant keeps chugging along as it provides employment for a lot of people. I think PSH also stands behind an old defined benefit super scheme for a lot of ex employees so it is important to keep going.
There are a few stake holders in the company who are very important, particularly the staff. I don't think shareholders will ever see another dividend but they are just one group of stake holders.
Another stakeholder is the debt holders. It is important that they recover their debt before the plant stops as outstanding debt at the time it stops could be at risk.
I expect when the plant stops the remediation cost of the sites would be largely covered by property sales as would employee entitlements. So hopefully debt would be looked after.
The profit forecasts don't look good to me. I also expect increasing breakdowns. Anyway the staff are doing a good job so I hope the plant survives as long as possible.
The shareprice seems to be holding up quite well, I expected it to fall quicker than this.
Bacci
PSH Price at posting:
27.0¢ Sentiment: Sell Disclosure: Not Held
