Trioptimim, couple of things I think shareholders should be pursuing right now.
Mr Michael Ottaviano should step down. His position is untenable. He has lost the trust and respect of shareholders. Someone needs to be held to account for the EMC disaster.
Mr Michael Fitzgerald needs to address shareholders around what the future for CCE holds. His absence in a time like this is disappointing and I like many others it seems, do have a lot of respect for him and I think it would go a long way to appeasing some anger that exists.
An investigation into Mr John Davidson and EMC needs to take place. The more I think about it the more I cannot believe that CCE could have got it this wrong. I think Mr Davidson has some questions to address. Mr Davidson has walked away with a serious amount of shares and I suspect they will be dumped the first day they come out of escrow. In my experience when these issues arise you need to follow the money trail to get to the root of the problem. An audit on business dealings prior to CCE and during the acquisition needs to happen. I suspect this is where the answers lay.
If shareholders are a pissed off as all the ones I know are(including myself), then complaints need to be registered with ASIC. This is extremely important and I would encourage those who feel they have been mislead and that CCE has been mismanaged or worse, that something underhanded has taken place then you need to write to ASIC immediately.
Subject to the next few months, it is very clear that there is a real likelihood of civil action. If you are upset with the state of play, I encourage people to speak to Maurice Blackburn.
It is going to be very hard for CCE to pull through but hopefully now that the cancer has been extracted, it can focus on CETO 6 and things will turn for the better. If they don’t, shareholders will attack with vengeance and lawyers will reign. JB
CCE Price at posting:
2.0¢ Sentiment: Sell Disclosure: Held
