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22/02/18
09:56
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Originally posted by MeToo
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My opinion, this all goes back to ICBC Capital’s (Landau) overly ambitious 5 farms purchase “plan”, which was a typical Landau proposal, you should have seen one of the others, sunken treasure. I wish I could say more about Landau!
The only way for directors to save face could be to change the company name (done), keep holders in the dark and then drag it on and on (done) hoping people forget, as Dixie noted. (Unlikely to forget)
I personally cannot see the 5 or any farms eventuating!
So they must find a new business or find someone looking for an RTO. The problem for the directors and major shareholders could be that they will or could loose control of an ASX listed company.
Time and money are running out. Automatic delisting occurs at 3 years.
I cannot see the point in intentionally delisting this, it has no assets, so to speak! The only real asset is the shell.
Opinions?
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With an EV at approx $9m, is a bloody expensive shell ! Can’t see it being an RTO target, better options in the market for those that are inclined to take on a shell.