Paying down another 18 million in debt is a positive, and might provide some spark to sp but I doubt it would be much as its pretty much expected.
New CEO,depends on who it is. Some have there followers.
I beleive Prime have enough control and dont need to make a takeover. Prime will want a return on their current 21 million stake. The current SP would have them at a loss.
All we have to go on at the moment is the last announcement which in part quotes
"The review will include all parts of the business and will address issues including business unit and corporate strategy, the integration and consolidation of operations and the capital requirements for the company moving forward."
(perhaps really means ISSUES by God we have issues.No more stuffing around, this is what we want and this is how we are going to get it.)
“The new board will increase the focus given to consolidating the company’s recent acquisitions."
(no more dragging the chain!)
Our objective is to introduce a stronger performance culture into all aspects of management.”
( cut the long lunches and pull your finger out! Answer the phone and fix the dead links!)
“The successful completion of destra’s rights issue enables thecompany to reassess and review its operational and strategic options. This review will also focus on emerging opportunities in the digital media space, appropriate resourcing, and positioning destra for future growth."
(we like destra's business model but we need to get cracking!) .......................................................
Not sure that we should be expecting a good second half. There might be a lot of termination payouts and restructuring costs. However I am hoping to see where we are headed though. A growth in margins would be an excellent catalyst IMO.
For now the SP wont be doing much until a little more certaintly of Primes intentions surface, ie no takeover, in the short term at least. A statement to that effect would be nice. Another thing to watch maybe the new CEO incentives (options).
Oscar
P.S I hope existing holders are still buying at these prices, too many newbies might be tempted to take profits should we head back into the 20's anytime soon.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
