Karl is a lawyer, who will be prepared for something like this. If he knows anything than how to screw retail shareholders borderline legally. The whole debacle started when we all paid for the legal action related to his brother. Should have sold then... No trust in management anymore and I hope they do get their second strike and this proposal voted down. Problem is, there is a big chance of that not to happen and even if it happens, he will find a way to keep your money. Hence me selling out today... very painful... The LVT IR email this arvo, more than 5 hours after the market had opened, shows that they are either completely incompetent or borderline legal (interested in the SP to collapse for now). Pair it with the interest rises of the RBA and the loss of traction of their core product and the risk reward becomes pretty obvious. I am still surprised this came ever out of trading halt and not straight into suspension and will surely ask the ex-CFO a few questions of the next few days/weeks. Even if they get voted down and then a 2nd strike, who is going to lead the company once the two $1m boys aka Atlasians are gone? The chair of the board, who has done exactly what til date? If you organise a class action though, let me know.
LVT Price at posting:
3.8¢ Sentiment: Sell Disclosure: Not Held
