I have always been wary of this particular sentence in Dr King's bio on the CDY website:
"An expert in high growth companies Dr King has a track record in starting business ventures and developing them into attractive investment and/or take-over targets."
The only query I have with that sentence is: "attractive" to who? The potential acquirer - or the existing shareholders?
With that - the recent changes to (& US influence of) the top 20 shareholders list - the ever lowering of the SP (now less than .013 pre-consolidation) - and the continual accumulation (or lack of selling) of shares by management ...... my wariness continues to increase.
I am trusting that ASIC conduct a thorough look into things.
As for looking at the Minutes, I am sure the Corporations Act (Sect 251B) provides for all members being entitled to inspect the Minute Books of "member related meetings and resolutions" free of charge. However, I am not so sure about free access to Director meetings and resolutions. On this, I defer to a greater power....but then I wonder...if a Board has nothing to hide....
CDY Price at posting:
25.5¢ Sentiment: None Disclosure: Held
