Last week, a number of PPN minority shareholders with a combined...

Last week, a number of PPN minority shareholders with a combined shareholding exceeding the required 5% under section 249D(1)(a) of the Corporations Act 2001, announced their intention to both PPN & the auditor to call a special general meeting in an attempt to get the PPN board to explain the delay in finalising last Years accounts and hold an AGM.

The Section 249D action by aggrieved shareholders seems to have jolted PPN out of its inertia and the word is that the auditor was to sign off on the 2010/11 accounts on Wednesday 30 June.

The next step is for the PPN board to publish the final accounts and set a date for our long overdue general meeting.

If all goes well, PPN would then apply to ASX & ASIC for listing restorating and pay whatever fines are applied out of "OUR MONEY".

I look forward to reading the final accounts and especially the explanatory notes at the back to find out what it was possible for PPN & the auditor to come to an agreement in May 2012 rather than August 2011.