It must be worth noting that the board of CCE have had nothing positive to say to the market about the exit of Mr Davidson. Normally an exiting board member is at least acknowledged.
It is very clear in my opinion that EMC have been trading in the red for sometime, well before CCE acquired them. You only need look at CCE to see what happened when the acquisition took place. A massive great big gaping hole appeared on the balance sheet. For me this raises some real questions around the transaction.
What was sold to CCE? Was it CCE’s incompetence, or was something more concerning at play?
It also begs the question of the role Ms Alannah McTiernan has played in this debacle, given her previous role as Director on the EMC board and subsequently as a major advocate for the Albany Wave Farm. Can it be construed that political interference has taken place? Especially in light of the fact it was announced CCE had secured Albany well before it even went to market?
Beyond the mum and dad investors and Australian taxpayer money at stake, the issue is increasingly more significant because there is state (Western Power and Horizon Power) and federal government (Defence and CSIRO) projects at play.
What now of Albany?
What has happened to Kalbarri?
I expect Government will run a mile now given what has happened
Let’s also not loose sight of shareholders in Clean Energy Investment Holdings, another major holder in CCE, born on the back of a Pooled Development Fund (PDF) and now with Mr Davidson again emerging as the major shareholder.
I’m starting to see a pattern here.
A question to all shareholders and one that has been raised previously by forum members; Why haven’t any CCE board members come out in support of what is going on and purchased shares??? I expect they may after reading this but the fact that they haven’t speaks volumes?
To much misinformation and at times, downright blatant lies.
Expect the media to crucify and lawyers to have a field day.
I think Mr Davidson and the board of CCE has a lot of questions to answer.
People need to be held to account.
CCE Price at posting:
1.9¢ Sentiment: Sell Disclosure: Held
