Disclosure and governance appears to have flown out the window, are there not rules and regulations to be adhered to that are under the control of ASX and ASIC. A publicly listed company even though suspended for 2 1/2 years is not a private and select club, there are many shareholders and the company is bound or should be by the Corporations Act.
1. It is alarming that some shareholders have not received their proxy forms with their individual voting number.
2. There has never been full disclosure nor a vote of shareholders on the Fiji project.
3. 249D notice surely a statement should have been forthcoming by now.
4. Promissory note/Death spiral for $500K this does nothing for the company other than more debt and no where towards the purchase of any of the Australian farms of which shareholders have approved by vote. Where is the September quarterly is it that bad?
5. It has also come to attention that the company has had a CFO since about March this year. On Linkedin a Michael Brennan of Cobram is the CFO of Pacific Dairies Limited, he was previously Business Manager of Cobram Irrigation. Has this ever been announced on the ASX platform, definitely NOT.
All shareholders large and small need to take a stance and make this AGM vote count, if not you could possibly loose any chance of a return on your investment into this company.
IMO DYOR
PDF Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held