Hi MeToo, I don`t have knowledge of the company you describe but...

Hi MeToo,

I don`t have knowledge of the company you describe but you do indicate the power that shareholders held in that final vote.
So when its comes to a vote such as a no confidence motion in the incumbent board shareholders are asked to form an opinion on the future of the company. They then vote accordingly.

In the case of PDF the shareholder base is divided between those who still believe in the incumbent board and those who don`t. What is left when as a shareholder all faith is lost that the board can deliver. What is left when you discover breaches of the Corporations Act that are so numerous that there is strong likelihood that is doesn`t stop there. And it doesn`t.....

What do you do as a shareholder when a board holds the power and can stack the share register and make decisions that are not made with due care and diligence for ALL shareholders.

The first thing is to establish the aim. Our aim is to get the company trading again. To do this PDF needs a minimum of $4 million in net value plus other items as demanded by the ASX to complete partial Chapters 1 & 2.

Can the incumbent board achieve this before PDF is automatically delisted in May next year? (as its will be suspended for 3 years.) Well so far the incumbent board as not dropped its chairmans contract with the company of $150,000p.a. for 3 days a week work and Directors, Ray Taylor of $770 per day with a minimum of 3 days a week. And the company is technically insolvent , so you have to ask yourself are they for real?
The company has not provided quarterly reports and its annual reports are one year late despite the Corporations Act requiring an AGM to be held before the end of November each year. Do you think they will hold the 2018 AGM on time when the 2017 AGM is being held next week and 9 months late. Where is the dairy cattle income?

There are shareholders in PDF that are proactive and just 8 weeks ago they set about to get this company trading again. The question asked is what does a group of shareholders offer and where is your offer? A very pertinent question.

Firstly the current management has had 3 years to provide finance and hasn`t been able to do so. They have raised more than $1.5 million but that looks like most of it has gone already even though the company has no business.
Our belief is that the only finance current management will obtain to start trading again will be from dodgy brothers as that is the area they have shown that they play. Dodgy brothers finance is only provided in companies in PDF`s situation of near insolvency when they believe they can take the company and screw the shareholders. After 3 years it appears that dodgy brothers loans is the only option for the current management due to the financial history of the Chairman and in particular one of the other long standing directors.

So back to what can the shareholder alliance offer?
First we will protect our investment and won`t be diluted to history by dodgy brothers or watch this company be delisted without a fight. Second we have used our networks and expertise to organise a plan complete our aim. Third we have evaluated every option and now know the enemy and its Corporate breaches and much more.
Now its time to match the finance to the plan. These processes take time and shareholders within the alliance are aware of the process and are all in agreement and now form a tight bond that won`t be broken.

What have we got to lose. In 8 short weeks we have put the current board on notice. We will have an impact at the AGM and if they do find the finance to get this company trading again we will challenge their offer with our own for shareholders to vote on.
Thats if ASIC doesn`t remove this board first. (Save your time posting a reply on ASIC, we have a contact)

IMO DYOR