Counting eggs as chickens is never without risk. This one has gone from low risk to sky-high risk as we head into year end reporting. Outcomes at this point could be:
- the money is cleared and all go (looking unlikely after being strung out this long - though I've no idea why anyone would play such games!)
- the deal doesn't go through but they manage to tick on through into next year on cashflow and remaining bank facility
- Suspension without a result before or day after due date... and probably re-financing in which existing shareholders end up with crumbs.
They owe shareholders some clarity and the longer they stay silent, the more suspicion arises that they will end up at the latter scenario.