The problem is this lot do not want to turn this ship around with the current shareholders.It will be turned around but after the note holders have acquired the company
Reading the last announcement....the implication is that if we vote yes to the notes we are voting for the note holders to acquire the company.....section 611 is acquisition and item 7 deals with shareholder approval. We had worked that out anyway........there are so many cheap notes out there that shareholders are wiped out now but it has to be official and therefore needs a vote to proceed with the acquisition.
My fear is that shareholders still trust that CTL will do the right thing and vote yes when a yes vote will be for takeover. Also they claim they are combining the meetings to save shareholders money but it will be to confuse. Such an important vote should not have been allowed to be combined with the AGM.
Why haven't we received voting papers or the official announcement. The meeting deadline is end of January. I thought that these things needed 28 days notice.!
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
