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21/01/16
18:36
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Originally posted by ozblue
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TT, you can't say you were never warned about this mob, as many of us had being saying how bad they were with timelines etc for ages by the time you bought in.
The Chairman, who in the last announcement had highlighted how the company was in advanced discussions with an underwriter, decided to go on a holiday to Hawaii for 2 weeks sitting on a beach!!!
"CuDeco Limited (ACN 000 317 251) (Company) advises that it is in advanced stages of negotiations with a potential underwriter for the revised Rights Issue"
"This announcement does not lift the suspension from quotation of the Company’s shares.
On behalf of the Board."
That statement from the 17 of December.
It hardly gives anyone any confidence in anything they say does it? Was the Chairman negotiating on behalf of the board on a beach in Hawaii?? What right does a chairman of any company that is in serious financial trouble have to go on holidays when they are desperately trying to raise funds?? I would state none, absolutely none, especially as they just told shareholders they were in ADVANCED discussions with an underwriter!! This is another aspect that should be looked at by ASIC.
If the discussions had concluded without a result, then why wasn't the market informed? If there has been a positive result, then why hasn't the market been informed??
ALL shareholders should be livid that the company teetering on bankruptcy, has a chairman that decides to go and sit on a beach in Hawaii for 2 weeks during "advanced discussions" for an underwriter.
If anyone wants to defend the chairman's right to have a holiday, I would have no trouble with it IF the financing had been completed. Are we meant to believe the chairman had/has no place in these discussions? Then why put out an announcement about it on behalf of the board??
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Its a pay it forward thing Oz - W.W tried to warn us all in 2010 ( he was a bit cryptic ) but I didnt listen and payed the price - I tried to warn you to keep an open mind when you went to woodstock that all that you see is probably all there is to see !! nothing missing or lost
And to your credit you have been trying to warn others since you saw the light . To quote a line from the wedding crashers " We lost a lot of good people out there "