I am so angry at the moment the delay is crazy. It is the 7th tomorrow and it requires 28 days notice....they are up to something
The major shareholder will not be able to vote and so hopefully there will be a resounding NO vote as it is our only hope
To be offering con notes to insiders ( employees and the major shareholder ) at a huge discount to the current share price would be unheard of. Particularly when the shareholders haven't a clue about what is going on as the company never do operational updates. We could be mining gold and paying down debt as some shareholders are hoping but I don't think that is the plan at the moment. . The same applies to directors......why bother with another director when you are hoping to take the company over very soon.
So we never get updates and our Board is non compliant but CTL like to perform BAD Corporate Governance. That is why they moved their office from NSW to WA as Good Corporate Governance dictates that you hold your meetings in the area where the majority of shareholders reside and CTL's mantra is Bad Corporate Governance.
If you wanted to demonstrate to the shareholder community how NOT to behave CTL would be the perfect example.
It is such a pity that there is not a score system for Corporate Governance where directors that perform like CTL directors get shafted.
However shareholders can VOTE NO and can put up a motion to remove this Board.
CTL is a great asset but will never be a great public company with the current Board or management
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
