“At the moment we think AU$1.01 is a fair price for the information we have had available to us prior and post bid, so that is where it sits at the moment.”
“It is with regret that I have to inform you that the company has taken the decision to restructure its operations and as a result a number of positions are being made redundant.
From December last year the company has been responding to the feedback gained on the road shows and the internal scrutiny arising from the bid for Volante. Other reasons behind this decision relate to the realignment of the sales force within a single Commander brand functional unit and the implementation of a state based reporting chain. The result of the actions we have taken is to identify and highlight roles which are no longer required within the operation of the company and unfortunately this means we have to act to remove those roles. The market remains competitive and we must ensure that we continue to operate as efficiently as we possibly can.
Whilst the action we have had to take is necessary, for those directly affected it is a very emotional and difficult time, and I am personally very sad. Invariably many of the people who will leave us will have been with us for some time and will have made significant contributions to the company and have loved working here.
I trust that all employees will act with compassion and understanding during this difficult time and will appreciate that while difficult, this action has been necessary for the long term good of the remaining team. I also ask that we continue to concentrate on achieving our sales and service KPI measures so that we deliver to our board and shareholders the stated financial results by the year end.”
