I don't think you are correct in saying that most other public company's have inter party transactions. Some do, certainly, but nowhere near a majority and such transactions need to be watched very carefully to ensure that they are fair. I do wonder why Ernst and Young gave up the auditing.
FRM has been an absolute disaster during Lendich's term. What is the point of expanding the business if you can't make a profit out of it. You would have to wonder how such a simple business could do so badly.
I agree that the previous Board did not appear to have any intention of giving the money back to shareholders but in terms of the decision of whether the company should have stayed in eggs or not, they have proved to be the winner.
GPASAS
FRM Price at posting:
7.6¢ Sentiment: Hold Disclosure: Held
