"Progress required on other assets" . Agreed , but to achieve that from a position of strength (net cash position ) as apposed to the norm of debt. GENL is in an enviable position and amongst the few . Cash is king.
Add to that pi@@ poor management . The last placing was a disaster and a kick in the gonads to all ex share holders. To me it showed total disrespect and absolutely nil grasp of forward planing , cash in the bank. Not trust .
I think you will find isis was a threat to the whole region at that time. Granted it never materialised but according to the press it would last a 100 years. lol My point was/is it affects sentiment ie low SP.