Five years ago the stockbroker warned me that the only people to make money out of DPL/PPN would be "THEM".
For the first couple of years, we all lived in the hope that the promised dividends were hidden somewhere behind the smoke and mirrors and were not far away.
Honest John worked out his strategy years ago, and like his King Island sheep, the shareholders all lined up to be fleeced. Each year a few more shareholders give up and sell their shares, currently for only a fifth of the 50 cent IPO price.
Expect nothing from PPN and you won't be dissappointed. Each year Honest John will ask HIS Board for yet another pay increase as a reward for his annual loss making decisions and there will NEVER be any dividends for minority shareholders.
We live in hope that the other 2 members of the Board, who are essentially Honest John's employees, will grow some bollocks and stand up for the minority shareholders.
Whatever happened to ethical behaviour by directors?
PPN Price at posting:
9.6¢ Sentiment: None Disclosure: Held
