Originally posted by Purpose
Suess,
Thankyou for your detailed response.
Board replacement of PDF and relisting the company is going to happen because of what we know this board has done with our money, not because we don`t know. Its going to happen because they have lost the confidence of a very large percentage of the shareholders in the company.
We are current shareholders so your thoughts, judgements and experience is not based from our position. A shareholding position was our starting point. Why would we want another company shell?? Pointless commentary.
You have made much commentary about our quest as being over confident, fruitless and has no chance of success.
Shareholders are already having success. You said nothing will change. At present everything has changed in PDF.
A spill meeting is now in place, annual accounts have been completed and issued, projects (whether the boards announcement has any monetary value or not) are sought and new credible candidates are standing to lead the company if they are elected.
For the first time in nearly three years there is hope within shareholders minds that there investment is not totally lost and that is reality.
I am not going to debate the honesty within your post but will say you totally underestimate skill sets that shareholders can have. Your default setting is that this current board is smart. Smarter than all its shareholders. Thats an underestimation and a dangerous assumption for this board if it does also.
You forget I said at the very beginning that research is completed PRIOR to actions.
You state in your post you have experience in listing companies. Maybe we don`t agree because I have experience in successfully removing boards of listed companies.
I know exactly what the strengths, weaknesses, structures, relationships, aligned shareholders, corporate governance, credit history, personal traits, health, business history, wealth and physiological traits the current board of PDF has. It is from this point I assess the strategy to succeed.
These subsets of PDF are completely different to AHF as they are to every other company, you should know that outcomes never come from the exactly same set of circumstances as they are always different.
You should also know that ASIC doesn`t spend its time randomly calling anybody to see what the weather is at that location. Since the banking Royal Commission to say that ASIC has renewed vigor would be an understatement. Will they move before this board is gone, to use your words, remains to be seen.
The spill meeting is just another step in getting rid of this board. At present is I would say that Paul Duckett will not be re elected and Ray Taylor is in doubt. I bet you never see that in your assessments.
Spill meetings get the regulators and the media`s attention. It was never the kill pill for PDF because or related party share issues.
The bottom line is that shareholders now do have an option. They can vote for more of the same or a new board that is fresh and the will to re list the company. Re listing the company was not the focus of the current board announcement on Monday. For mine it was a thought bubble that has no material substance and its sole purpose is an attempt to hold onto the board, not re list the company.
Of more immediate concern to the directors would be two statutory demands I hear that has been issued on the company. Maybe the promissory note announced by PDF can cover them, maybe not. Whatever the financial position of the company, the stat demands will require satisfaction prior to the spill meeting.
Looking how the voting pattern was with previous General Meetings I'm not sure you could be confident at rolling Paul Duckett and possibly Ray Taylor?
