shame shame shame

Shame! Shame! Shame!

These were the last words the CEO heard as he left the room after a most disgraceful performance where he showed the utmost contempt for the rights of minority shareholders.

The final insult was not offering shareholders a cuppa and a cheap biscuit from NQR after the meeting.

He even invited me out the back to continue the discussion. That would have been interesting with a CEO with CQC [close quarter combat] after his name as his only qualification trying to teach a lesson to a shareholder.

I told Trimble that if I was elected to the board I would act in the best interests of all shareholders and sack him as CEO thereby saving shareholders $450,000 a year.

Bottazzi was asked whether he has been discharged from bankruptcy. He denied that he was bankrupt. However Judge Gordon of the Federal Court says otherwise in the decision dated 14 September 2009.

Botazzi also told shareholders today that he won his tax evasion case with the ATO. Again the court transcript says otherwise.

"Commissioner of Taxation v Burness (As Trustee for the Property of Bottazzi , A Bankrupt) [2009] FCA 1021 (14 September 2009)"

http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/FCA/2009/1021.html?stem=0&synonyms=0&query=bottazzi

and
Bottazzi and Commissioner of Taxation [2008] AATA 890 (6 October 2008)
http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/AATA/2008/890.html?stem=0&synonyms=0&query=bottazzi

Bottazzi, who claims to be the former owner of Bar20,was asked whether this was true or whether another bloke was the actual 'beneficial owner'. He described the other bloke as a 'business partner'. However, if we go back to an article titled "Under The Tables" by Mark Forbes in the Sunday Age on 30 March 1997, it tells a different story. There is no record of this journalist having been sued by Bottazzi.

http://www.multigym.com.au/multi-gym-articles/1997/3/30/under-the-tables/

Today Corporate Governance in PPN died a quick death as four well qualified shareholders with long careers in Administration were voted down in favour of Bottazzi.

I loved Trimble's comment that he had no need for Corporate Governance on the board as that is what they pay Mourice [Garbutt] to do. I hope someone from ASIC picks up on this.

All this was said in the presence of journalist, Ben Butler, from The Age. I am looking forward to reading his article to see what he thought of this fiasco.

Al I can say to the PPN board is Shame! Shame! Shame!