HWE 0.00% 49.5¢ henry walker eltin group limited

useless analyst as usual

  1. 222 Posts.
    i see another of those so called analysts has got it toally wrong as usual.

    no doubt there maybe some in here and if there are may i say you rate about the same as the dudes who forcast the weather = no f*&^ing idea


    Crunch time for HWE investors
    By Robin Bromby
    December 23, 2004
    SHAREHOLDERS in contracting group Henry Walker Eltin are going to bear most of the pain in the company's financial restructuring as it battles to cope with nearly $300 million of debt, according to a broker's report sent out yesterday.

    This news will strike fear in the hearts of investors who will recall the fate that befell ordinary shareholders when Anaconda Nickel and zinc giant Pasminco were revived by the banks and bond holders.

    Deutsche Bank analyst Andrew Nicholas, writing to clients after HWE went into a trading halt while it finalised a recapitalisation decision, said the banks would probably control the process at the expense of equity holders.

    "The bond holders are likely to have a big say with the banks because both parties have large unsecured exposure," Mr Nicholas said.

 
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