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Ann: Conquest Abandons Proposed Bid for Priority One, page-8

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EddieRobinson

182 Posts.

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30/10/14

18:08

Post #: 14210365
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Originally posted by jefferies2 ↑

I think I see what you mean.

CQA told ASX that due diligence on Priority One had been completed, with favourable results. The board of CQA said it was therefore preparing papers for shareholders. The shareholders are the company and make the decision.

Now CQA's board has cancelled the takeover, without consulting its shareholders for a decision and without telling shareholders how this stuff-up happened.

Who pocketed CQA's half a million dollars of shareholder funds to do the due diligence? If I was CQA I would not pay the bill.

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From my research, Priority One were investigated by ASIC and some of their alleged claims far fetched at best.
I for one am happy this didn't go through and P1 are itching for an ASX listing.

CQA Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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Ann: Conquest Abandons Proposed Bid for Priority One, page-8

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