Ann: Resignation of Non-Executive Chair, page-18

Well I did say that Welker would win this time -

https://hotcopper.com.au/threads/an...g-proxy-form.7380907/page-74?post_id=67764892

McGlinn did not want the world to know that shareholders had given him the order of the boot, so he (and his hangers on) did what every body does , they jump like this video shows its done



I suspect things are now a bit dire with the company having run down its cash during a period of poor production activities, and we will not know how things are until the next quarterly report is released as well as the full year accounts that indicate the level of accounts payable and what progress has been made on the decline.

One person that will be lodging his resignation is the current President of the local company (I wonder what he was being paid).  I also wonder what deal RV will accept under the new directors for his co-operation (must be at least double the $1m pa he was previously getting, I presume, but I just do not know).

Will The Groundhog now support the new BOD or will he sell as some posters have indicated they will do once the trading suspension is lifted.

Regaining any market confidence in this company will take time - nobody is sure for whom  the BOD is working, other than perhaps for Welker, but its too early to judge.

I might buy some shares on spec if it drops to 20 cents in the hope that all is not lost for small shareholders.

I think the operational audit will become some sort of white wash operation to make things appear respectable for newbies and less discerning investors.  X64 will continue to be milked by the locals and also possibly to some extent by management.

GLA.

loki (sorry for the pain the company has caused - I have also lost some money in the past gambling here.)