This goes back years to the time a share placement was made to YAGlobal.They sold down relentlessly($2_15c) then the Gen manager put the company into vol. administration without consulting shareholders.Prior to this independent shareholders owned 60%+ of shares .After this process we emerged with about 6% equity and YAGlobal and associates with the rest.This fandango was notified to ASIC and anybody else who would listen including ASA and was comprehensively reported by Scott Rochfod and Stewart West in SMH;all to no avail.
This is a Snapshot of a very murky episode in Aus corporate history and reflects poorly onASIC and corporate governance in Aus.
Small shareholders Caveat Emptor!
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
