Specky, little left in the kitty now so frankly I don’t care. However if you think that shares in TAG is a good outcome for CCE shareholders, you are very much mistaken.
The off loading of EMC was a good old fashioned fire sale. EMC were and have been trading close to the line for some time, I firmly believe that if the last CR had not come through (which we now all know was a rattling of the tin under false pretences) then EMC would have dragged CCE under. Regardless that is still a very real and in my opinion, likely outcome.
Baakman the Western Power SPS was only an EOI and has not been announced yet. It still needs to go to RFT for a conclusion to be reached. I would very very surprised if either Western Power or Horizon Power went anywhere near CCE/MPower/EMC in light of what has happened. Far to much risk and government and utilities don’t like risk. Think about all the turmoil that EMC have been through over the past few years. To much instability and still no assurances that it will be any better. Infact now potentially worse given the financial standing of MPower. I expect that as a result of this there will be significant retrenchment and staff layoffs.
I am interested to understand what has happened to Newcastle and Kalbarri? Also what has happened to Lendlease after all this.
Let’s not forget that this script play is not a forgone conclusion. The sale is contingent on shareholder approval and on MPower raising the 4M for the purchase. I’m sure they wouldn’t announce it unless they were supremely confident though.
What a joke EMC and CCE are. The whole situation is a bloody disgrace! Be under no illusion, regulators will be looking very closely at this. Shareholders have constantly been lied to for too long! I and many others have lost a lot of money because of this business. Enough is enough! People need to be held to account.
I look forward to the next AGM!
CCE Price at posting:
2.3¢ Sentiment: Sell Disclosure: Held
