There seems to be a bit of argy bargy going on as to the final makeup of the new board.
At stake seems to be putting the past misdemeanors of a botched up prospectus and subsequent run in with the ASIC by previous Managing Director now ex Tony Seymour in to history and getting a highly qualified panel (without baggage) to drive the company back to the success it enjoyed before it listed into the malestrome of the ATO's crackdown on agricultural investment schemes in 1990.
It appears one of the new candidates main qualifications is that he is - still largest individual shareholder - Tony Seymours son-in-law.
FEA has made the crucial first steps of developing a vertically integrated value-add solution for its timber production.
As with most of the other Bluegum Managed Investment Scheme (MIS) companies its woodlots appear to be relatively unaffected by the dry conditions due to proper selection of establishment locations.
But clearly the company needs to move fast to make up ground in the establishment of an effective distribution network for its prospectuses as the sector giants GTP, TIM and most likely a rejuvenated APL move onto its home turf of Melbourne and Sydney.
For those interested the AGM is being held at Le Meridien in Collins St Melbourne tomorrow at 2pm.
FEA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
