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Yep, agree on any move to replace the board. If you could call...

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Eaglebird

766 Posts.

57

05/01/19

12:43

Post #: 37032143
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Originally posted by D1326 ↑

The insertion of item 7 of section 611 was probably at the insistence of ASIC to warn shareholders of the implications of a YES vote.

ASIC will hopefully be watching this carefully as it is virtually the takeover of a public company by a group ( note holders) that have been offered the company at a hugely discounted price by the Board. A YES vote secures the deal for them.

A NO vote may mean the note holders take over by default however in light of the antics of last year, we would probably be very successful in a class action. Also a NO vote will mean that shareholders do not want to lose their investment and maybe shareholders can use their power to replace this Board. With gold prices up if we had a different Board the company may be very successful public company instead of a successful private company that seems to this Board's intention

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Yep, agree on any move to replace the board. If you could call it that? Going forward, who would invest in this company (other than insiders) while it is being run the way it is?

CTL Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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