The Chairman and CEO have both made false and misleading statements when they said, both in the 2016 results announcement and in 2016 AGM addresses: "the capital structure is no impediment to paying dividends" when dividends are currently restricted by the terms of the hybrids.
These directors have had to be sparing with the truth to stop the company collapsing but they can now afford to shoot straight . I don't understand what they are waiting for? They will never recover the value destroyed during their time on the board. The return from owning Futuris/Elders shares whilst Mark Allison has been on the board is approximately 97% loss. 94% loss for Hutch Ranck.
Ann: 2016 AGM - CEOs Address, page-4
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