The only thing that needs to be investigated about ASIC is why it's taken them so long to0 do something about this. Tapeta is, and always was a disgrace, the points you raise are only half truths to support a fairy tale. The ONLY directors of RCL are Billis and his wife. Billis went out and found a prospect that HE decided was worth over $24M in TBR shares alone, and that it was fair to the shareholders of a public company that they should hand this over to him. Forget the fact that there was absolutely nothing of independent worth to backup this valuation. Forget the fact that Billis decided to pay himself in shares, yet had gone to great lengths to ensure that the true value of those shares were not reflected by the market. Forget the fact that little exploration on this prospect had been carried out, but as part of the agreement RND was to fund this exploration plus all the other costs RCL had incurred in the past and would incur going forward.....AND forget the fact that legally Rand was no longer allowed to keep the TBR shares it held ......How did he manage this.......By using the undeclared and illegal ownership control level that he held.
You don't need to convince me of anything, the situation is very clear and has been established by the Takeovers Panel acting as the independent judge and jury.......The question is what will they do as executioner?
TBR Price at posting:
$6.70 Sentiment: Hold Disclosure: Held
