Yoda 4 Directors left. No Acting Chair. One works with CGA at...

Yoda
4 Directors left. No Acting Chair.
One works with CGA at very senior level. Hard to see any real issues where he can add value to the discussion because of conflict from his employment
The other 3 Directors have no ACTUAL Funds Management experience in their CV's And despite their announcements, one might raise a query their independence for CTN as Directors

The prime example of public conflict has to be Mr Putakidis, who was centrally involved in the sale by CTN of CAML to CGA. CTN sold the business in late June 16 to a $2 Company - set up by him as sole Director and sole Shareholder. His private business earned substantial fees from the future CGA for his advice to them in this transaction According to the future CGA , it took control of CAML in late Sept 2016 through agreements set in place earlier, that CGA would take control of the $2 company.
So how can the person controlling all CAML activities on behalf of CGA for 3 months only 12 months ago, and actively involved in CGA 's launch, claim through 2017 that he is an Independent Director of CTN - and involved without conflict in significant transactions by CTN involving CGA? Further, His family company was listed in the Top 20 shareholders at CGA's launch

All the above is documented in CTN's Ann Reports of last 2 years, in the CGA prospectus of Aug 2016, in statements re the EGM of Tyrolean Diagnostics ( now CGA ) of mid to late Aug 2016, the Notice of CTN Meeting for the EGM on 27 March 2017, and other public documents released to the ASX

As to CTN buying back CGA - At $13m( the sale price in 2016 ) - per share 26 cents for current owners. Not very attractive to them? And a good adviser to CTN Directors might just mention to them - the lower FUM now, lower revenue and higher cost base now, the micro performances of the last year, and perhaps a less certain hold on mandates

DYOR