Screwed by Nido Management, page-16

Damian welcome to the world of the big business predator and an insight into how they operate. Two points to remember for the future:

1. If you aren't in the club then you don't get a seat at the table where the directors, the big shareholders and the connected share the spoils - you're not even in the same building let alone the room where the action takes place. Our esteemed ex CEO Phil Byrne and of course current management are and look at how well they made out compared to the ordinary shareholder - and we were paying them for their trouble. Does anyone think good old Bill B did a top job for the people he was supposed to be representing, outside of the company's largest shareholder that is?
2. Not until you get a big player who has serious money invested or someone with clout will the small retail shareholder see any assistance from the "authorities" where situations like what we have just experienced with Nido are concerned. All the talk of market integrity, level playing field, oversight, etc., is just that ..... talk, but with a distinctly "cattle yard" smell to it. ASIC, I am sorry to say, is as useless as t...s on a bull. Generally, unless it is a high profile case, or there is a lot of money involved, or the media has got onto it, you will not see them going into bat for the small guy. The small guy is not in the club or doesn't have the right connections to get things done.

The level of protest from the minority shareholders, apart from a few posters here on HC, was deafening in its silence. The minorities out there who made no sound, who never contacted management or the TP to voice their dis-pleasure, who appear to have done nothing to protect their investment, have only themselves to blame. We have all been shafted by management and taken to the cleaners, this is what happens when you say and do nothing. Look at what a small group of shareholders in Flinders Mines were able to do when they got together following a bs lowball takeover offer for their company from a large shareholder. They sent him packing - sure they still have a long way to go and it could all still fall over but at least they are stilll alive and in the game. Not so us.

Cents on the dollar is what we'll get - no share of the future potential that so many have waited so long for.
Remember this and how management sold you down the river - don't forget. Do so at your own peril.

Just a quick point re the Takeovers Panel. They can only investigate complaints if a formal application is made - they cannot instigate action themselves - unlike ASIC. I think they try to do a good job and mostly they seem to but someone must first start the ball rolling with them.

Sar76, Bamboo, Damian - drop by the Lounge re my discussions with the TP. I'll probably leave a Skype address if you want to contact me about it.