Hi Justdabble
You requested my opinion, well here it is.
All I can see is that David Breeze has managed to bring the company back to life and saved the PDF which will be a great relief to all shareholders. Without that being resurrected nobody would have been able to claim any losses against tax and profits would have been fully taxable.
He and his fellow directors have worked hard to turn things around since his re instatement to the boards of Advent and MEC Resources by ASIC. I will be voting to approve all 17resolutions at 2022 AGM.
Hereis a brief summary of the issues that have plaguedMEC Resources ( ASX MMR) since the AGM Nov .2016.
The board of directors and officials of the company connived to remove David Breeze as MD. As to their motive only they know the truth, but as far as I am concerned it was definitely not for the benefit of the shareholders. What they did was illegal and was eventuallyoverturned by ASIC in 2019 after many submissions by myself and other shareholders
For 3 years the board was operating in a dubious manner. During that period there were 16 board members who were appointed and resigned in a way that avoided the scrutiny of the shareholders.
On several occasions Ipersonally tried to obtain a copy of the shareholder register so that I and fellow supporters of Davidcould advise fellow shareholders of what was happening.I paid the appropriate fee, however they refused to allow the share registry to release the information to me without strings attached, my money was returned. On one occasion, I and several others were threatened with a substantial bill for the calling of an extra ordinary general meeting.
Then to top of theseproblems, after DB was reinstatedPrime Minister Scott Morrison moved to shut down PEP 11 for political reasons. Fortunately for all shareholders the court overturned this act.
rogerd
(20min delay)