I think that the board was forced to accept that asset sales were never going to be in the region expected and hence the cashflow model was broken as we saw by the downgrade. The bank probably said HEY this is not what we were told in Jan time to pay some money back to which CDR probably wanted them to take a haircut on the facility which they would not and then we get to this point today...
Just my thoughts - sad but we will all get over it including me and my large tax loss
CDR Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
