Hunter shoots aain 9.03% to 11.17% !!, page-15

SBM is just another company set up for the corporate cowboys so they can keep their snouts in the trough. I was a SBM investor some time ago. In 2012 they applied to the ASX to go ahead with an acquisition without shareholder approval (apparently normally required). They then proceeded to pay around double the going price for Allied PLC. The SBM share price crapped itself overnight and has never recovered. I personally think all the smart money reaped a bonanza with the takeover. Imagine if you were in on the joke and could have bought Allied for less than half what SBM was going to pay. SBM at that time supported multiple offices and regularly zipped here and there around the world with their penchant for "roadshows". Undoubtedly all the SBM corporate types have a taste for first class travel and five star accommodation. ASX and ASIC etc. are all paper tigers and the corporate cowboys just virtually do as they please at shareholder expense. In the end I think they treat these companies as their own little fiefdoms to do with as they please. The shareholders can then support them in the manner they have become accustomed to!