This Application is very provocative. It's a real 'red rag to a bull' stuff! I don't expect that the Mandevilla group will accede or concede to a request that it be prevented from voting.
The other element is the request ''that those persons who did not disclose their shareholding prior to 9 March have their shares vested in ASIC for sale." Well, I wonder what Section of the Corporations Act empowers that? I have no idea! Another red ragger!
In fact, I don't know what powers or authority TOV has in matters such as these.
All that the reply says as regards its position is; 'A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.'
So, where do things go from here!!
Who is pulling the strings so far as the protagonists is concerned? Castledine? Frazer? Newton?
Who is pulling the strings so far as the Board is concerned? Barnes? Vearncombe? Clements? Fotios?
AUR Price at posting:
6.7¢ Sentiment: None Disclosure: Held
