re: Ann: Letter to foreign shareholders re Ri...
When HC if I get time I reckon I can get close to working out their clever 84%.... but then it probably requires some inside knowledge on who is going to stump up what money beforehand.
The LGO suspension is more to do with not putting in accounts on time. Naughty. That should not suspend the normal activities of the company.
Like being late with an assignment at uni... no big deal.
The guys I feel really sorry for are Burrell and Keach. I believe that deep down they actually had some concerns for average boring Mum and Dad shareholders like myself. That there really was Nobility there somewhere.
Lacking in nobility myself, I admire it in others.
That they were not just boring accountants and brokers. Good guys don't always win.
.. but sentiment has no place here amongst the cut and thrust of business... which sounds Macho and great!!! as long as you are not on the receiving end of those cuts.
SXX has no hope of ever making a profit. None at all. Zilch. It keeps regularly putting its hand out to shareholders to survive. Perpetually. So what does that make it worth.? A loss making business. How to lose money in one easy lesson.
The only way is to sell the whole thing up. Divide what is in the bin, and adjourn to the pub for a wake on SXX.
That is rather unlikely under the current Board. It may be a valuable and free lesson in corporate agility, but it certainly sets no example in looking after the interests of shareholders..... regrettably.
SXX Price at posting:
1.0¢ Sentiment: Sell Disclosure: Not Held
