They lost around 5 million in lehman brothers. That company blames the companies underperformance on the GFC.
The reason for delisting of IDG is lack of liquidity. He believes the shares are not trading at value. The reason is they reduced the shares on issue. It appears they delibately reduced shares on issue and reduced the companies liquidity so they could use it as an excuse to delist.
Who do they think they are fooling.
This could be a point where litigation arises. They enguage on a buy back and share consolidation because their motive is delist. They also use other companies they control to buy back shares and reduce shareholder voting. This in my opinion is a conflict of interest and unconscionable conduct.
IDG Price at posting:
$4.90 Sentiment: Hold Disclosure: Held
