very very smelly report

What they said does not stack up !
Please see last PRESENTATION http://www.asx.com.au/asxpdf/20090227/pdf/31g9mlgwn6kvgx.pdf

1) 76 % ELECTRICITY SOLD UNDER FIXED PRICE CONTRACT - GOT NOTHING TO DO WITH THE GAS PRICE ! NOT linked except in Texas !
2) DEBT FACILITY REFINANCED WITH SAME LENDERS NO PENALTY
REDUCED
3) It is not correct to say that credit conditions will not improve by June 2010 (the already have in the past month dramatically)
4) Bonus for the managing entity if $5.6 million - Management to retire(corporate Excess) fees were only $933,000 last half. 2.5 Years in advance they are having a lend please. I am sure it will be the same staff
5) what does will not pay more than the constition says what does this mean ? this is a stapled share ie it includes % owing to shareholders

I guess that a change in managing entity is in order

Those who agree reply happy to send a letter + requisition a EGM.