I am with you.
All the feedback we have received to date, indicated that sales were going well.
all the announcements have confirmed that.
In the AGM Bert reiterated that sales for the year should be >55% increase.
They have had plenty of opportunity to amend that growth forecast!
The AGM was only 5 weeks ago, so how can the outlook turn around from a positive outlook to a pear-shaped outlook in just 5 wks??
So - I think this update is in response to the S249D notice.
To everyone demanding a response from Yowie wrt the S249D, YOW must follow the process required by the Corps Act. That provides specific timing wrt calling of the meeting date, complete with notices, background info on nominees, the specific resolutions, the cases put forward from nominees, and the responses from the incumbent mgt.
The GM to vote on the S249D resolutions, must be held within a specific period from the date of the S249D.
"...Once a request is delivered to the company, the directors have an obligation to call the meeting within 21 days. The meeting must then be held within 2 months of the request being delivered to the Company."
So YOW announced receipt of the Notice on 19 Dec.
So they have to call the meeting by 9 Jan 2018, and actually hold the meeting by no later 19 February 2018.
So I tend to agree (at least have a fervent hope) that this sales update is positive, and in relation to the S249D.
I would have thought that s/h and the mkt would have to be fully and properly informed of the current operations of Yowie, prior to voting on the S249D?
Am thinking that if sales are going well, and the 55% sales increase is to be met, or exceeded, then if Yow suddenly came out with a really big sales increase as a counter to the usurpers, then the new nominees will scream "why have you withheld this important news of a sales increase?? Why didn't you release such market sensitive info as part of your Continuous Disclosure obligations??"
So I am think and hoping, that this release is to update mkt ahead of the Board's response to the S249D notice, and to provide tangible proof that Yowie has indeed turned the corner.
Expand
(20min delay)
