tis an interesting situation: early jan 2016 - disclosure of put...

tis an interesting situation:

early jan 2016 - disclosure of put / call agreement with Lowes

"going concern basis"

then in note to FY16 accounts

The Company also announced that Masters will cease trading at all stores on or before 11 December 2016.
In addition, on 24 August 2016, the Company terminated the Joint Venture Agreement with Lowe's, and the associated option contracts arising under the Joint Venture Agreement. This termination right arose as a result of a dispute about the process to value Lowe's shareholding under the option mechanism in the Joint Venture Agreement. As of the date of this Preliminary Final Report, Lowe's owns 33.3% and Woolworths owns 66.7% of Hydrox. Consistent with the basis of the Company's $nil valuation of the terminated Lowe's put option (as described in Note 16), no allowance or provision has been made in this Preliminary Final Report for shareholder payments that may occur following completion of the above transactions and exit from the Home Improvement business.



this suggests:
WOW - CAN NOT SELL THE PROPERTIES BECUASE THEY DONT OWN 100% of same .......

ALSO _ there is a dispute of the amt of the payment to Lowes ......

this is why the stock is falling

rgds
V_H