directors with holding information on takeover

In my view the directors have been with holding information from the market after they have been approached on 2 seperate occassions by McAleese.

The board should be making these approaches public as it puts their jobs in the spot light. Their main focus is to create shareholder wealth, not to save their own asses!

Since the first approach last November the share price has fallen from $0.40 to sub $0.30.

In my view the board is trying to discredit the apporach by McAleese to mislead the market. It was a little suss that as soon as McAleese lodged his substantial yesterday afternoon BOL came out with 3 new contract wins and are now arguing that it undervalues the company. The directors have failed to create (only destroy) share holder wealth.

McAleese isn't going away quietly. They are one of Qld's largest private companies and I believe if the board do not engage / give them the time of day they will go hostile.

Iam believe that $0.52 is the low end of the offer and buying more on market today! The directors need to prove themselves!