I believe Ms MacTiernan has asked CCE for two financial models. One with R&D tax in play, the other without.
I side with Mr Redman in his appraisal of the situation. CCE shareholders were told this was a commercial project. The state government is saying it is R&D. Someone is falsifying the situation.
Not that it matters to shareholders but there is further misinformation around jobs. This was supposed to generate hundreds of jobs according to Mr McGowen? The numbers however completely contradict this statement which was obviously more puffery from CCE.
I think Ms MacTiernan is in a spot of bother. No business case, a rigged tender, genuine conflict of interest given her previous Directorship role with EMC. It really doesn’t pass the pub test.
When this comes crashing down, it’s going to be interesting to see where fingers are pointed and what recourse there will be against culpable parties.
CCE Price at posting:
0.4¢ Sentiment: Sell Disclosure: Held
