Since the IPO in 2003, I have attended every AGM and voted on every investment proposal put to shareholders.
While I would like to be able to blame the Board for some poor investments, shareholders were given a vote on whether to proceed with those investments.
As I listened to the evidence and voted in favour of the investments, it would be a copout on my part to put all the blame on the Board.
All of us were caught by unforseen events. Anyway, all that is in the past and PPN's investments are now returning a profit.
I would really like to see the PPN Board make more than the bare minimum of ASX announcements. A brief quarterly or monthly announcement to ASX would keep us all informed about what is happening.
Out of sight is out of mind! PPN was in the news all the time when Andrew Harris was CEO. The media sought out Andrew's opinions whenever bordellos were a hot topic in the news as they regarded him as some sort of expert.
It is great to see that PPN has quietly got its act together and started to make profits without any fanfare at all.
Thats the way I like it, making money slowly and quietly without any get rich quick schemes.
The company really needs a new experienced CEO to strenghten the Board and take the company to the next level. This would allow JT to return to his Chairman's role.
PPN Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
