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nolly

1,208 Posts.

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16/01/19

11:01

Post #: 37129378
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Originally posted by D1326: ↑

I submitted my third complaint to ASIC regarding the conduct of this Board and because I have not heard anything I phoned them. The person I spoke to couldn't tell me much but did make a comment about the number of complaints received. I got the impression that even if the conduct is disgraceful which it is in this case then ASIC will not act if they have only received a few complaints from shareholders which makes sense. The more shareholders that complain the more likely ASIC are to act. We don't have very long as the Gandel loan is due in February and the company may be making lots of money but as we know by past experience they can spend excessively and waste money and get the company into more debt if it suits their purpose. Most of the announcements in the last 6 months have concentrated on the debts they are accumulating and the ridiculous terms. With the discount of 20% the con. notes are @.35cents with security over the company's assets. They will get away with this unless MORE shareholders go to ASIC

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Might be idea to send a copy of this to CTL as well to let them know, so they can change their strategy

CTL Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
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