Our Managing director is according to the Auditors reports a very straight shooter.
According to Grant Samuel the cash is still in the bank and the company is still doing what the IPO investors were led to believe it would.
The MD seems to be supporting the need to be re-listed and hasn't resisted the board changes that have put two Australian directors in control without a bloody coup.
As he no longer has control, if its not possible to get dividends out of china, which I personally doubt will prove to be the case, then Im sure the board will move to sell the company to one of the big international operators that are currently vying for market share in China.
To them it would have to worth a lot more than the cash in the bank.
I'm not rubbing my hands together just yet.
XPD Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
