ah well14 Mar 2011 17:57
bought one lot at 5.2p and another lot at 5.86p near the end,i'm surprised to see it drop back a bit near the end of the day,iv'e read the RNS a few times now and i still believe strongly that this current shareprice is well oversold,so i think the next two days trading here will be very interesting,i fell very sorry for the ivesters here before this correction,but as i say only up from here generally in IMHO,The main things i took positives from in the RNS was 1/ The lenders remain fully supportive of the actions which the company is taking to adress it's problems. 2/ Management continues to implement the new horizons change programme which will be completed by the end of 2011,(so that doen't sound like to me anything drastic is happening anytime soon) 3/ The company remains on track to deliver the substantial cost savings outlined in the Feb IMS from the introduction of a more efficient,consistant staffing model and from new procurement initiatives (sounds to me these guys are not going to sit on their backsides ,they are going to try there hardest to turn this around) 4/ I'm not too sure about this one as i am new here today,but why have they turned all the offers down ,was it because they wern't happy with the offers and thought this company is worth much more(confidence of the management in the future of southern cross?,i must admit i would have loved to have known what the offers were,that would have been interesting to say the least.