CTN and CGA were once a happily married couple. CTN and CGA are now divorced. And its turning nasty.
Yoda suspects if Mr Packer was running CGA, he never would have signed that kind of IMA, an IMA without exclusivity? Never in a million light years. Considering that CTN and CGA were divorcing, you would expect CGA to dot all i's and cross all t's in any contract with CTN? Did CGA just assumed exclusivity was in the contract, and forgot to explicitly include exclusivity? Did someone signed without reading? Were Mr Packer and Mr Rankin informed that the IMA did not contain exclusivity and still tipped in 20% and have their names feature very prominently in the press coverage?
A rookie mistake made by seasoned players? That could be very upsetting to Mr Packer and Mr Rankin.
Was CGA prospectus misleading to the reasonable man? Could a reasonable man infer that the prospectus stated that an IMA with exclusivity was all locked up? ASIC, ASX what do you think?
So now AllFuelledUp says plan B is on. Lets kick out some of those stubborn directors who believe that CTN should be run for CTN shareholders.
CGA Price at posting:
$1.20 Sentiment: None Disclosure: Held
