BCS 0.00% 40.0¢ brisconnections unit trusts

right to refuse to register transfer, page-19

  1. 126 Posts.
    Some interesting points re EGM notice published this evening.
    Apparently no motions from ASI other than to wind up (i.e. nothing which would require a more attainable simple majority). Seems a wasted opportunity?
    No attempt to justify any future value to shares other than confusing reference to brokers' forecasts "which may not be met".
    Assumption of second distribution no more that 3.5pc of company's market value at the time. Sounds good but probably effectively nothing again, and even then, no commitment. Why on earth base a divi on market cap???
    No invitation for other shareholder questions at EGM (e.g.Director's shares, whether they were aware of Pictet sell out etc etc).
    Claim that ASI's ability to buy shares proves there is still a market (a bit rich this, when they're threatening not to register such transactions!)
    Claim that EGM to cost $400k - catering must be good!

    All this could have been avoided if they'd just stuck to their PDS and paid the first "fully funded" divi...
 
watchlist Created with Sketch. Add BCS (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.