directors contempt towards shareholders , page-23

IFINO - I am sorry I didn't get to read your comment before the mods took it off. maybe you could articulate what you wanted to say without the flaming or baiting so that we could have a meaningful debate.

In regards to AZZ and its management.

I cannot see the logic of having a meeting approving the sale and for there to be any legal grounds that management could withdraw - I can only draw a conclusion that as we don't know who signed the agreement it was in everyone's best interest to let AZZ be the party to exit.

Really it amazes me how patient you all are but then I got out with a very small profit of $1700 - really only because I sold some early at an $8k profit and then took the $6300 loss at exit. Its easier to get out if you are ahead or a small loss than if you believed and we all remember those that we gave up hope on and they shot up later. In my case that is SHV - I made a good profit but the climb from $2 to over $6 has me floored.

So what management expect shareholders to believe here is that :

1. They cancelled the sale.
2. That they saw greater value in keeping the assets.
3. That to emphasize that they put in a share buyback.

What has been the experience -
1. A complete vacuum of information to support their argument. No presentation laying out how they value the business not even one of the fluffy targeted share price.
2. Not even a company research report supporting anything that I can see.
3. Data analyzed here by others doesn't seem to support a much improving outlook.
4. No Share buyback despite the share dropping from around 52 to 42 thats a 20% drop. If it was already flagged as worth more than 80c (after tax expectations if sale went through) what price did they want a 50% discount is something I would jump at.
5. The supporters (IFINO included) pointed to a buy order that started to getting filled just around 40c as maybe the first - still no announcement of any shares bought back and shareholders are suffering.
6. The annual financial statements to 31 December 2013 were released on 1 April based upon the assumed sale and not amended even after the fact that on 5 February it was abandoned. Why would you issue statements more than 40 days after something as big as that. What is the impact of not viewing the assets as held for sale?
7. Really how can any shareholder or even prospective shareholder value this company - there just isnt sufficient information in my opinion.
8. Does anyone know how much debt the company will have to take on to develop all the remaining assets and whether it can be completed out of cashflow and further what are the payback periods given some of the recent well performances.

Really I am shocked that no shareholder has complained to the ASX because I think the AFS is ignoring a material subsequent event and had ,more than enough time to alter the financial statements.

So why am I interested - I have seen others have issues at RFE and suddenly the bubble bursts when the supply of finance runs out and that made me wary. I would like the company to inform the market so that we can all debate the underlying value and determine if an opportunity exists.

No I dont have any axe to grind - I still made a small profit - actually thought I may have made a small loss by the time I got out but went and looked at the tax report to verify.

Really I think you shareholders deserve better from management , even more so when management have as much on the line as one of them does.