What are Peter’s thoughts on Phoslock Environmental Technologies (PET)? I am a share holder of them and they have been in a trading halt since September. They are in a mountain of trouble in China which I’m sure Peter would know about. Moving forward, what should I do when they address their internal problems and come back on the ASX market?
A: Sorry, not much more than their trading update of 12 November (see attached)
We still don’t know the extent of the irregularities – so when the accounts are restated, the market will no doubt react.
The company had $35m cash on hand at 30 September, so I guess that will provide somewhat of a floor under the share price.
https://email.switzer.com.au/hubfs/Market-Update%20(1).pdf
