I have just spoken to Michelle Li about this and aired my concerns, she was very forthcoming with information, she told me that one of the directors knows the developer and his family, and he brought the potential deal to the table, as all of the directors have been asked to come up with some ideas on putting to work the lazy balance sheet.
She is keen to hear feedback from shareholders on the JV idea, so please contact her and let her know how you feel about it.
Ann: Corporate Update - Grange Strategic Developments, page-15
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