I suppose the reputations of Forrest Capital and the current...

I suppose the reputations of Forrest Capital and the current board of SBN are only as good as their latest deal.

Given the dilution involved in this deal they must've known they'd need to work a bit harder to get the share price up upon announcement to the ASX.

Not sure why there's no notice of meeting yet and no SBN website update. In fact looks like they re still looking for acquisitions and Terry Cuthbertson has been re-appointed as director!

Yet Forrest Capital were able to update their website immediately:

http://www.forrestcapital.com.au/recent-transactions

You would think that given the time it has taken to do the deal they could've put steps in place to do simple things like:

- get ready with the update for SBNs website
- draft the meeting notice and arrange timing etc for shareholders to approve the deal
- arrange some "share register management"
- promote the deal
- get ready with some market updates / other anncs should the market need it (which it clearly does)

Looking at the course of sales there was a big dump of shares today - 5m. Wonder if that was someone from last year's cap raise exiting? Perhaps Wishny Krishnarajah selling again? Probably a bad choice dishing out shares to people who are going to short-term trade for a 10% gain - if that is what's happening.

I still think it is a buy at current levels and the timing is great, but if the deal fails then like I said above the reputation of these guys is tarnished for sure. I reckon given the current selling pressure we'll see 0.009 or 0.008 tomorrow. Offers a good entry - at least for a short term trade.