11c distribution, page-7

Mikes100,
I hope the proposal is not approved by shareholders. I voted against it. I would rather see a transparent sale of the two remaining assets and distribution of the proceeds.

Once this company is unlisted it may become the plaything of the directors free from the protections of a listed company. They may retain millions of dollars of shareholders money to play with. They could justify many luxurious trips to London board meetings and other treats.
There is nothing to stop them bleeding away the rest of our money.
The investments in minority positions in unlisted companies have been a disaster. Until you pointed it out I didn't realise that the millions given to IVF are now controlled by an ex executive of IWI. It will be interesting to see how the sale of the IVF shares is handled if they end up with that ex executive who must be well known to the directors.
If the vote succeeds we can only hope that the directors of the private company wind it up quickly.