Fanciful. But there is NO way shareholders, ASX or ASIC ? would permit that. There is nothing in that which remotely benefits shareholders of CTN. It would be a bail out, a pure pump and dump. It would also wed shareholders to a clearly underperforming investment management team. You also would need an IE report to support it and there is NO way they would come back remotely suggesting CTN is paying fair value for it or it is worth anything for that matter. My observation is that CGA is going to go out of business within the next couple of years even with its predictable shareholder top-ups. So I can't see it happening
That said, there are a few in-controversial facts. Most of which you laid out @Dumas #Dumas (one of those works I don't know which one). CGA is sinking and needs its 4th life line (IPO bail out, debt facility bail out, cap raise bail out). I also think they pull the next Q payments forward to fatten the previous Q revenue numbers for what that's worth. Anyway, with the P&L the way it is it is only a matter of time. Yes, yesterday's trading did appear contrived. Perhaps it was just client review time for a stockbroker long CGA, or perhaps more sinister.
Either way, I expect to see something within the next 48 hours, perhaps buried deep in the CTN Annual Report. Perhaps BooBoo wants to be Chairman there is all it is but I'm guessing there is something in the Notice of Meeting Mr Kerr would not sign off on. Considering he had little difficulty playing Switzerland as a Chairman through the night of the CGA long-knives earlier this year, that would suggest it is worth keeping a finger on the refresh button to see what a Resolution etc might be
Popcorn is out of cupboard and in tub next to microwave. Butter still in fridge though
CGA Price at posting:
90.0¢ Sentiment: Hold Disclosure: Not Held
