RE: Incompetence28 Jun 2023 13:56
It does seem that the board were somewhat naive in the purchase of the Hanwa assets. Or, the press that the deal resulted in was worth the overspend as they needed to try and keep the share price up. It had a positive effect for a while but reality has now set in.
Either way not great choices made by the board, I guess they expected something else to come along and rescue them before the issues came to a head. The market and all its players made sure that didn't happen.