grazingbullI cannot fault your assessment of the situation.With...

grazingbull

I cannot fault your assessment of the situation.

With the directors being so eager to keep the business listed only indicates to me that they have an interest in not liquidating at a loss to shareholders.

I suspect that the new directors both Bronte & Coastal will try and strong arm the bankers to take a haircut or debt for equity swap. They have a vested interest in creating value for themselves.

Notwithstanding, they have already both made upwards of 25 to 35% on their initial transaction with TPG this is now all upside if they can come out of it with some cash.

Having visibility to the cash flows will bne critical and as such would place pressure on any potential acquirer to pay a realistic price for the assets rather than a fire sale price if the business was unlisted.

I still hold on the hope they strategy that Bronte and Coastal may eventually create some value.