It strikes me that (whilst serious) the governance failures around mis appropriation of company funds, White's treatment of employees and the claims from aggrieved former employees are a distraction from the real issues here.
This company (as it stands) should not be listed on the ASX - due to not having independent directors on the audit committee There are serious questions around accounting Mass resignations of independent directors who were unwilling to tolerate White's business dealings (whatever that means) Effectively no board representing shareholders interests ASIC seemingly likely to launch an investigation into the company
This seems a lot more than a DEI issue.
Maybe I have missed something but shouldn't a company with so many problems be trading at a significant discount with respect to valuation rather than a p/e of over 125 x earnings. ?
Am I missing something ?
WTC Price at posting:
$89.63 Sentiment: Sell Disclosure: Held
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