MEM 25.0% 0.5¢ memphasys limited.

answer of questions at agm?? really??, page-3

  1. 867 Posts.
    I was. Were you?

    At this stage, it doesn't look like I'll be able to make the 2012 event. Shame.

    And I thought the so-called "rebels" put up a good argument. And many questions remained unanswered, particularly about the bonuses.

    Also we were told about DCS Healthcare as a key financier. Now it's revealed that DCS was Mr Goh. Who is yet to finance anything other than with the money we have paid to him! And the Annual Report 2012 says "A commercial debt agreement has been executed in September 2012 with Mr Goh, and also a formal lien placed over the related shares. The Company will commence recovery proceedings if settlement is not forthcoming." Does this "commercial arrangement" include interest charges of 12% as we were paying on our commercial borrowings from directors?

    And I don't believe any of the questions raised by the "rebels" was dealt with in any form, written or verbal. Just saying "It has been dealt with" is not an answer. Nor is saying "It will all be revealed later" if it has already been dealt with.

    And your post on continuous disclosure is spot on. You are right when you posted Post # 8745084

    ASX Listing Rule 3.1 reads “Once an entity is or becomes aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities, the entity must immediately tell ASX that information.”

    If the ASIC matters are closed, is this not "material" to the price? I would have thought it most defintly would boost the price substantially.

    BTW, I note you have still failed to answer the question posted a number of times "what do you expect to happen to the rebels should they show up?". This and the potential answers to questions at the AGM is a true test of your credibility. No answers or no "action" should the rebels show up (which I doubt) will be your test. Let's see if you do have the right stuff or if your from the NuSep school of "openness".
 
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