re: Ann: Company Secretary Appointment/Resign...
w2t, I hope you do get along to the AGM. I think you are right in this now being more of a financial services company than medical waste. Its only a matter of time before they re-name it Republica Capital, imo. What sort of people now constitute the "new" company is a bit of an unknown. And who is going to "approve" the additional issue of 200m "performance" shares to them, now that those who knew what "performance" had to be met have now left. I am new to the company and have come in since the Republica acquisition, or more correctly, the Medevac acquisition by Republica, but there seem to be some positives. 1. The share raising foreshadowed in June '12 has not gone ahead, 2. the company appears to be net operating cash flow positive, and 3. the recent announcement (foreshadowed at the time of the "merger") seems to indicate a hope of profits. My thoughts for the AGM, which I won't be able to attend, would include 1. How do they intend to dispose of the rest of Medevac. 2. Who will authorise the issue of the "performance" shares which will give the people behind Republica Capital 75% of the company. 3. Given that a large part of the company is in financial services, will current shareholders be given an entitlement issue to new companies they seek to list on the ASX. 4. Is Medevac in its current form sufficiently well capitalized to continue to prosper when the economic climate turns down. I appreciate that there is a lot of pain for many long term holders. Not to mention frustration and hurt at putting your money and trust behind an idea, only to see it trashed. I suspect the company is "Medevac" now in name only and even that will soon be an anachronism. I am hoping, as a new shareholder, this company has taken a turn for the better. It seems to me the AGM might be the first place anyone will get a good look at what the show is all about and some of the priorities of the new board.
MDV Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
