Ann: Annual Report to shareholders, page-22

Hi AO,

History of this board suggests,

1/ Inability to raise funds for a project
2/ Long list of director private companies including Agline Pastorial that have failed including legal actions by creditors to wind them up.
3/ Making announcements that never progress past the announcement itself.

Don`t worry about a sugar coating as all investments in PDF are effectively already lost and valueless despite millions being poured into the company.

For mine, the strategy of this board is all about buying enough time until delisting where the company will then be held privately and away from ASX listing rules. If they believe that action will allow the past directors decisions to be buried they could not be more wrong.

Changing the board will give shareholders a chance to recoup some value against the money they have put into the company, but even if the board does not change, there will be a reckoning and justice will be done.
Justice has no timetable.

Shareholders will have two opportunities in the near future to change the board, but whatever the result, the action by aggrieved shareholders will not stop, even if/after the board is removed.

Shareholders should note that if you have two or more separate holdings in PDF you should have received two or more proxy forms and individual voting codes. If you have any queries regarding your holdings, ring Boardroom Ltd on 1300 737 760.
If you have changed address since purchase of shares and have not notified the share registry then you also need to call Boardroom Ltd.