Guys i do not think that this is dead and buried. What we need the management to do is to look at all options and make a decision that is in the best interest of the shareholders. They had two options on the table. One option is now off the table. The other offer was funding for 5 million but required the board to be removed. We need to ask the question why they wanted the board removed. Maybe it was to put a more ASX friendly board so that when they went to apply for the ASX listing then it was more likely to be accepted. No one wants to get in the same situation that we find ourselves currently in. Maybe the new investor believes that as Angus Parker was a Director of the company when it was delisted that he maybe a potential road block to a new listing. Maybe Matt Fahey was regarded as senior management of Vonex at the time of the delisting so that also could be a stumbling block. Who knows but if a new group of Directors are able to come in and apply for a listing and get it why wouldn't the management team accept that this is the best outcome for shareholders. I did hear that all senior personal including Matt Fahey and Angus Parker would have been offered senior executive roles in the way forward. This is what does not make sense to me. You are still employed by the company doing basically the same role it is just that you are not on the board of Directors. At the end of the day shareholders own this company and the board of Directors are there to do what is in the best interests of shareholders. I am trying to get my head around what possible concerns that they may have. If the new Directors have board control and they do not do what shareholders think is right shareholders have a right to remove them. It is called a shareholders vote. Don't we think that funding now and the immediate development of Oper8tor is better than risking Con note holders making a decision to take our assets which will leave shareholders with nothing?????
It is time for commonsense to start to take place and lets relook at Option 2 before it is too late for all of us.
VNX Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
