re: suspended pending recapitalisation vote Those calculations...

re: suspended pending recapitalisation vote Those calculations are correct.

Basic situation here is that through a combination of mismanagement, greed, dishonesty and stupidity, the last MD lost in the vicinty of $7 million in 18 months. Remember the name - Duncan Stone.

Whats left is a profitable power business, a small (read heavily downsized) pumping business, and a train-wreck of a solar hot water business which could still cost them millions - hence the reason better deals were probably hard to find. The guy who has stepped in is undoubtedly being opportunistic and greedy, and also appears to be pretty capable, meaning employees at least think he will turn it around.

Do you vote for it, or against it? Really up to you, the directors see the alternative as adminsitration, which in reality is what this deal represents. My view is that it will get better, but that the people who deserve to benefit (ie the shareholders) wont be the ones to do so.

Obviously all of this is just my opinion, make up your own minds.

PS Surandy, thanks for your comments re SES.