If it is any consolation I first contacted them around the 19th July and again the following month and have not yet had an official response. I did phone them about 1 month ago and was told that there was a lot of material to read and go through and so I am still hoping that ASIC may come through. However we are expected to act ourselves if we are not happy with our directors and so if anyone has around 2-3 % of the votes then we would have the required 5% to at least get a motion up to vote on their replacement.
I also contacted ASIC after last year's capital raising and they did look into it and found that Roger's son should not have participated in the Private Placement but he just put up a motion and of course it was passed. However they did look into it and do something at the time.
I also like the comment that......"whether regulatory intervention would benefit the broader community beyond the affected individuals"........The spec. mining sector is difficult enough without directors abusing their powers and action against these guys would send a message to others and hence benefit the whole sector.
If anyone has still not contacted ASIC please do so as the more shareholders that do the more likely we are to succeed .
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
