Holding back, page-30

Morning @Oyster farmer

No - I am not suggesting anything 'untoward'. However, I am suggesting something uncommercial.

Have a look at the Top 20 Holders as at September 2017

Volcan is the second largest shareholder but owes QBL $1,200,000 - that debt was 'impaired' according to the last Annual Report.

Now ... ask yourself who has an interest in Volcan? After all, the 'impairment' was made in Volcan's favour.

I will make it easy for everyone.

Source
https://www.bloomberg.com/research/stocks/private/people.asp?privcapId=52967155

Ok ... so as some on here have been noting ... do you think that an independent Board Chairperson might be helpful?

By the way;
"Volcan Australia Corporation Pty Ltd. engages in bauxite exploration and mining. The company was incorporated in 2008 and is based in Sydney, Australia. Volcan Australia Corporation Pty Ltd. operates as a subsidiary of Volcan Holdings, Inc."

Source
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=52967155

Top 20 Shareholders as at 26/09/2017 QBL

	Shareholder	Effective Date	Capital (%)	Shares	Notes
1	First State Pty Limited	26/09/2017	18.62	280,605,638
2	Volcan Australia Corporation Pty Ltd	26/09/2017	12.55	189,375,000
3	Mr Ian Stuart Watson & Mrs Catherine Jane Watson	26/09/2017	2.11	31,752,523
4	Jacobson Holdings Proprietary Limited	26/09/2017	1.59	24,000,000
5	Mr John Mcdonald & Mr Shaun Mcdonald	26/09/2017	1.33	20,030,835
6	Mef I Lp	26/09/2017	1.02	15,404,931
7	Mr Andrew Kavasilas	26/09/2017	0.75	11,360,124
8	BNP Paribas Noms Pty Ltd	26/09/2017	0.72	10,850,000
9	Mr Karl Baarda	26/09/2017	0.70	10,500,000
10	Mr Kwok Kim Cho	26/09/2017	0.58	8,700,197
11	Consult4Nts Pty Ltd	26/09/2017	0.54	8,100,000
12	Kore Management Services Pty Ltd	26/09/2017	0.53	7,952,087
13	Ecometrix Pty Ltd	26/09/2017	0.53	7,952,086
14	Ms Hiroyo Kitatani	26/09/2017	0.52	7,867,000
15	Mr Isaac John Esposito	26/09/2017	0.50	7,572,561
16	Capita Trustees Limited	26/09/2017	0.47	7,141,127
17	Jam Syndicate Pty Ltd	26/09/2017	0.47	7,081,300
18	HSBC Custody Nominees (Australia) Limited	26/09/2017	0.47	7,049,571
19	Mr Robbie Dalgleish	26/09/2017	0.45	6,789,801
20	Mr Kok Keen Chong & Mrs Hue Nghi Chong	26/09/2017	0.44	6,627,545
21	Total Held by Top 20 Shareholders	44.89	676,712,326