Ann: Results of Meeting, page-9

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03/12/18

21:15

Post #: 36735943
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Originally posted by Purpose ↑

Yes, a real mess, left for shareholders to fix up.
A CFO that has never been publically announced and has worked for a company for 11 months, a company that has no business, no income yet implies the chairmans son, and I would say has no chance of ever re listing under the current board.
The 2018 annual report stated many times a debt facility would be in place , late October, early November. This is after other announcements over the last 3 years of imminent funding that never eventuated. The Chairman was asked at the AGM on the 30th November about why the funding hadn't been announced.
His reply was he was unable to discuss any debt funding. In other words.. there ain't any..and quite probably never was any likelyhood of a facility when the Annual Report was written, given all the other announcements that came to nothing in the past.
So where is the promissory note now. Is PDF trading insolvently while the current directors have no directors insurance. There's another question. Has all the insurance providers refused to provide cover to this board, even the providers that get more than their pound of flesh to provide it. Is this board just too much of a risk for every Insurer?

There is a huge difference between the vote count of the 2017 AGM in September and the 2018 AGM just 2 months later. The company counted the votes for the 2017 AGM and Boardroom Ltd counted the votes for the 2018 AGM. Things change over 2 months but it's worth printing out the results of both years and comparing the difference. Fairly huge. Over 80% of all the votes issued in PDF voted in the 2018 AGM. That would have to be a record turnout for a company facing being de listed within the next 6 months and hasn't traded for over two and a half years..
There will be plenty of mess to clean up, a lot more than has been made public..

IMO DYOR

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Interesting read, although not about PDF

https://www.smh.com.au/business/com...asy-on-suspect-directors-20181116-p50ghv.html

PDF Price at posting: 2.9¢ Sentiment: None Disclosure: Not Held
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Ann: Results of Meeting, page-9

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