I don’t see major problems getting the cash out from China.
Surely, others people are able transfer money out. Why can’t XPD do the same ?
I see problems with Jiameng Zhang not wanting to share the profit with aussie shareholders. Jiameng is the only obstacle preventing us aussie shareholders receiving our dividend. Jiameng is also the reason why this 24 cents stock got sold down to 4 cents.. Replace Jiameng with an aussie align managing director and the stock will jump above 20 cents, for sure.
Jiameng only hold 20% of shares, His dad was stupid to use the shares as collateral for a loan and consequently lost the shares when the ASX halted trading without warning. Instead of coming clean, they hid this from shareholders and the ASX and cause us this huge mess.
The company hold plenty of cash, Jiameng will need to use this cash to buy back at least 255 millions shares to be able to gain majority again.
Why are we letting a guy, holding only 20% of stocks. Taking the whole company hostage?
3 solutions i propose to get us out of this mess:
1) liquidate or sell the company to a competitor.
2) company start a buy back
3) company start paying dividend
If management do nothing, the other 80% shareholders should get together and call an EGM. Choosing option 1. Liquidating the company. We’re looking at least 16 cents return per shares.
XPD Price at posting:
3.3¢ Sentiment: None Disclosure: Held
