Ann: Change in substantial holding, page-21

What is truly sad is:

management have known that the company has been carrying too much debt for at least 3 years ........

they had opportunities to sell stock at 50c, and then 30c, and then 20c .........

and have chosen not to ................

they will sell off some of their best assets (30june - Toll JV etc)........and give the cash to the banks..

what happens then - is anyones guess......

I (hope) that it gets re-capped.......

still amazed by the lack of action by the Board......


which has (massively) increased risks for ordinary share holders.

rgds
V_H