Bodo---To clarify my earlier statement on the club banks,it is in regards to an earlier application by the banks to the courts with SC Davies NOT agreeing that the application for the percentage of investors to be diluted to 30% in the investors vote of participating to vote and needing 75% to be successful in getting a new RE.
In the light of GTP having a company that was called Great Southern Export Company Company Pty.Ltd that was used to acquire in 2004 and 2005 the woodchip harvests for the 1994 and 1995 projects and bulk up the returns to the investors and that the chairman and a director,both of whom were partners in a leading Australian law firm,were so concerned about the use of great southern export company,that they resigned effective june 30th 2005.They,the former chairman and director felt they had not been fully informed prior to the decisions being taken.
This is where it gets really interesting,and that is why I have asked what is the current nett present value.
Why?---- do the tree schemes have a great southern plantation subsidary company in each of the schemes?,and if they do is it that magic figure of 30%?,
After all the club banks have grabbed the subsidary companies in each scheme,and if what I am saying is true then the banks have been dishonest in not acknowledging it and also have a Trojan horse component,these dopey experts that have been licking the banks feet and getting on the boards and signing confidentiality papers are inept and border on again of not doing their due diligence whether that they noticed it or not,and if they saw or sighted it it would require them to expose it
Though it may be not be the case,as the banks have control of the other subsidaries and this application to dilute the voting to 30%,then Iam suggesting that the subsidary companies of the former GTP had 30% ownership of each of the schemes,and if the schemes have these subsidaries in them more questions need to be asked
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
