Presentation failure24 Nov 2016 12:24
The sp has dropped 25% since last Thursday's presentation. Kudos Conroy and Johnson.
When I posited that Johnson had not done his due diligence before investing MTR shareholders' money in CGNR (otherwise why all the questions at the presentation) I was informed by someone on the MTR bb (yet another poster who claims he has Johnson's ear) that Johnson told him around the time he was investing in CGNR that this is what he does: picks distressed companies, gives them a few months and then kicks ass. This poster said Johnson had done due diligence and knew exactly what he was doing I replied that I've been given food for thought. So far super-Johnson's ass-kicking has led to a 25% sp drop.
So, here's the possible scenarios regarding why Johnson asked Conroy the questions he did last week:
Firstly, it was the above scenario ie the 6 month ass-kicking after intentionally investing in a distressed company. If so, it is failing miserably.
Secondly, Johnson simply did not do proper due diligence before throwing away MTR shareholders' money and is genuinely annoyed so asked the questions he should have known the answers to.
Thirdly, Johnson is genuinely annoyed at Conroy, discussed it with Conroy, and the whole presentation questions were staged in order to appease shareholders in CGNR who are justifiably furious with CGNR. If so, that ploy is also failing miserably.
I think it is the third option above but I have been so misled here that I've become very suspicious. Regardless of which of those scenarios are true, a further two points cannot be denied: it's a serious clusterf*ck and, at least Johnson asked some of the questions myself and one or two others here have been slated for asking for years now, and more recently by the allegedly new post-MTR-investment brigade.
As always I acknowledge openly that I could be wrong about the goings-on, .185p (18.5p post consolidation) might be a great entry point, I'm advising no-one to sell or buy, all in my opinion. All I can say with certainty is that no other decent explanations have been suggested as to the disastrous presentation last week. The other certainty is that the sp has continued drifting into very serious and critical lows.