LGB has undermined LGB. Even the current RNS is about as vague as it could get failing to identify
The assets in question
Who is questioning them
why they are being questioned
the size of the exposure
and then suspending the shares.
the history with CCO was as good with the whole company shrouded in a veil of secrecy to the extent that they chose not to disclose what the business was they were doing in South America.......kept noting "certain investments"
It needs a lot more openess and honesty to build trust with the market. If the picture was plain, the shorters, (if they exist in levels greater than the longs), would not get the traction they need and would go play elsewhere.
A small example of how the confusions start through a lack of clarity - . I am still not certain if CASH was recovered from Brazil or, some sort of financial "near-cash" instrument reflecting the underlying cash. It looks to me that there is some sort of "near-cash" instrument given that it is has passed thru Euroclear ..........why would cash have gone through a bond clearing operation? The RNS says cash.......the detail says "near cash"
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