David RichardsShares in Clive Peeters have bucked a 4.7% downturn in the ASX by rising 11.1% in late afternoon trading. However by the close they had lost all their gains to close at $0.90.
Late yesterday the Company finally admitted that they were calling in KPMG Corporate Finance in an effort to solve their problems which has resulted in their shares nose diving 94% this year.
Shares in Clive Peeters have bucked a 4.7% downturn in the ASX by rising 11.1% in late afternoon trading. Late yesterday the Company finally admitted that they were calling in KPMG Corporate Finance in an effort to solve their problems which has resulted in their shares nose diving 94% this year.
First tipped by the Financial Review last Tuesday the Company has finally confirmed that they have called in KPMG to conduct a “strategic review” of their operation. Insiders have also said that the Company is cutting stock levels in an effort to preserve cashflow.
In recent weeks GIO who have the lion’s share of the consumer technology credit risk market have admitted that they are keeping a close watch on the Company’s performance.
In a statement to the ASX the Company said that they are set to consider both corporate and operational strategies with a view to maximising value for all shareholders”.
Clive Peeters said it has retained KPMG Corporate Finance to advise the process and it does not intend to disclose any details of the review until it’s completed.