LTNman - perhaps they realised they
1 - overpaid for some acquisitions in the past and what they currently own is worth less than what they paid for it
2 - incurred significant costs for planned deals which did not come to fruition
Reading the news release, it sounds like Tinkler has been encourage, either by the board or by major shareholders, to look at things other than SEN (Tinkler has possibly been moved to a corner where he can't do any major damage), and that the new CEO Warwick Brady wants to declare all the potential bad news in the accounts while he's still new and can't be blamed for the events of the past (known as 'kitchen-sinking')
Last edited by davidjohnson6; 11th May 2017 at 12:18.