Re impairment chargeMarket reaction was a bit of a panic.
Impairment charge of $32M for 46.7M shares works out to $0.69/share & is a one time event.
Normally I would expect this to include absolutely everything and even a bit more as I'm sure they want to announce this provision only once.
Second Q results should include normal expected profit of $0.30/share less impairement so we should see a loss of about $0.40/share.
Not very good but far from market reaction. A lot of shares were traded so some people, probably funds, accumulatred at a low number. Book value should still be well north of $13.00/share.
This should really just be a delay in achieving their earnings target & add about 6 months to the analysts targets, allbeit the targets are sure to be revised downward.