I disagree, the sale of Europe steel is a move in the right direction. It has supplied more cash to the balance shhet to pay off debtors. With this streamlining GNE is now just a market name for PEX. This will hopefully be changed in the future. The directors leaving will also cut costs. I can see the current board of PEX taking full controll of the company and hopefully expanding the business with the business plan currently in operation.
All we need now is for the market to wake up to the facts and a rerating of PEX(GNE) to occur. This may or may not happen quickly but with the PDC saying they would take a 30% stake in the company it could happen quickly. Or maybe the PDC have decided to leave this investment alone and put the capital to work in other ways/buy other sites. PEX is a profitable trading company and will continue to be so in the future.
As a shareholder I would like to see the business grow and a bid from another petrol firm come onto the table.
Sit back and wait time again.