RMG 0.00% 0.7¢ rmg limited

Things don't look good, page-3

  1. 1,035 Posts.
    My broker has been positive about them for many months now.
    Suggesting that once the 22 companies have been bedded down, RMG has potential for more lucrative revenue from the Distressed Debt. They also see the $10mil costs taken out as a positive. One of the few sectors that does equally well in tougher economic conditions, but they do warn that market awaits confirmation of revenue gains.
    An article in the Fin Rev. last Friday, May 10 Rear Window, said that Eric Watson & his Cullen Investments issued a statement promising 'to get a lot closer' to RMG 'to protect it's investments'.
    RMG should be afraid because Cullen's statement did not end there. 'We retain a high level of confidence in the chairman, Jim Boult, but it is clear that senior management has not delivered acceptable results', Watson lieutenant Phil Newland said.
    'We are therefore supportive of the changes that have occured at the senior management level and regard them as necessary steps towards effecting a recovery. they are, however, but a first step, and further proof will be in the delivery'.

    Let's hope so as I hold a few of these suckers!
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Currently unlisted public company.

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