I would have to go along with RNF's comments. And that is, that our Management has gone and acted beyond belief with all the wrong information that they have supplied us. They then adjusted dates, they then amended the Independent Expert report to the tune of costing us many many millions of dollars, and I still cannot figure out as to what the ASX is doing to stop all this rot. IMHO, the ASX should step in now, and make them start all over again and reprint the Demerger Scheme altogether and at the same time appoint a new Independent Expert to prepare a new report. IMHO the incompetence of the last is beyond belief. How can an expert miss out on discovering a liability to the new venture of that kind of money, lol.
How can they say that the Independent Expert has made a mistake of about $73million dollars in his report and say that it doesn't make any difference when the Company after Demerger hasn't got much funds and only enough funds to last them until the end of the current year..??? They are even admitting that they will need a Capital Raise via a placement as soon as possible, (if the ASX will approve it that is) to Sophisticated Investors and Instos while they are leaving us out altogether.
As for today, they have announced that they (the Management) have converted options of Arrow into shares. To me that is only to give them more voting power at the meeting.
It Sucks...!! Well and truly. And it is all legal while we are getting ripped off mind you...??????
Buddy
AOE Price at posting:
$4.85 Sentiment: None Disclosure: Held
