Majority holders now only hold 20%, others shareholders hold 80%
aussie directors now in charge of the board, assisted by 2 chinese-australian executive that can speak mandarin.
in my opinion. It is very likely.. 99% the SAFE application will be approve. Chinese government have no reasons to refuse a legitimate fund transfer.
Jiameng best opportunity to be fraudulent has passed, now that the stock is trading again with the asx & asic , and possibly the chinese government watching from a distance. If Jiameng wanted to cheat shareholders, he should have done his best to get the stock delist, away from the authority’s eyes.. now its too late.. he’s only holding 20%.. others shareholders could sold the company tomorrow to a Chinese competitors and there is nothing Jiameng can do about it.
the aussie directors want to recoup their investment in XPD. Their entry price is around 14 cents per share. I’d say it is very likely they will find ways to push up the share price to 14 cents.
Here is what i expect will likely to happen:
SAFE approve fund transfer application, sometime late november. price will jump to 10 cents.
dividend announced, sometime march 2019. price jump to 12.5 cents
dividend paid, price jump to 15 cents.
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