@andres &
@The ruster,
Firstly it would be interesting to know how many here (if any) have lodged complaints to ASIC and also to the ASX.
I am not sure, but if I remember correctly, ASIC have a complaints area on their website and the more complaints they receive the more likely they will investigate and a copy of the complaint should perhaps also be lodged with ASX.
Having been previously involved in a somewhat similar action and as I am only a 400,000 AOW holder,
perhaps as a suggestion someone keen enough could start a new thread asking for shareholders with large holdings if they might divulge the number of shares they hold and if they wish to pursue the board for a response to shareholder questions etc.
Of course we have no guarantee that AOW management would reply, and in any case, going on previous form by management perhaps a response by them would still be unlikely.
We are more likely to get a response if at least 5% of shareholdings declare a loss of confidence in the board for the following (stated) reasons and therefore request they resign. That would be a first step but would need to be followed up immediately with other ready to go notices and we would require persons to be nominated as future board members.
It's no good doing anything further unless shareholders show a real eagerness to see it thru and not leave it all up to one or two people.
Someone here recently posted that they work for a legal firm??
I am willing to contact a law firm that deals in company law and ask for guidance as to the best solution and actual costs but only if many here are interested to go that way.
The easy way is to let it go, do nothing and be treated like plebs in the same manner as currently.
We don't count in their view so why would they bother telling us anything unless shareholders force the issue.
I have said enough and the rest is up to all others here. We either do nothing or we have a go and chase this for answers. Remember also that board members do not like being thrown out and would likely resign their positions but then the question needs to be asked about the current financial position of the company and what are the legal ramifications or outcomes from the previous board and management?
It really is a can of worms!? Do nothing and get done over or attack?
