Ann: Notice received under Section 249D of the Corporations Act, page-67

Looking in from the outside here, this looks like a real mess. After losing big time on View Resources under Bill Oliver, where the company went from announcing a rosy quarterly to being in administration days later, I'll never invest in anything where he is involved ever again.

It does appear as though this company is on the ropes under the current management, and I can see why an attempt to oust some board members might be justified here. But on the other hand, the disgruntled investors behind this attempt also appear to be blowing their own trumpet and claiming they want a member of their own family to be on the new Board. I don't know about anyone else, but I find this specific issue disturbing. The intentions of this disgruntled group as a whole are not really known yet, as well as the intentions of those wanting their family members on the Board are not known either. To me it is a conflict of interest to try and take down a Board and put yourself on it instead. If I was a shareholder in CLA I'd be far more comfortable if the 249D was proposing to restructure the Board with people unrelated to those attempting to change it.

The intentions of those wanting their family members on the new Board is the biggest concern here. The share price is on the brink of collapse, and investments will shortly be wiped out completely. Let's hope their intentions are not to try and save their own investment from collapse at the expense of everyone else's investment, or get onto the Board for their own personal gain. Board members do after all get priority over retail shareholders with distribution of entitlements when entities collapse.