Prat - I'll presume that your post was directed at me.
My criticism will continue whilst the company remains silent regarding recent events and the share price subsequently declines.
To be honest - yes, I do believe in my own business acumen more than WPs. I have run three separate private businesses, all of which have been profitable. I have an MBA from a very respectable business school and am a director on the board of an Australian based organisation (so am well aware of the statutory obligations this role carries). I have invested in literally hundreds of listed companies for over 20 years, have worked for a major global investment bank in London and have over a decade of extensive experience in corporate finance so can opine on the fact that AHZ capital raise was extremely poorly executed. Most importantly - I've never lost anybody else's money like AHZ management have a track record of doing nor have I ever failed to honour a promise. You want to talk about spectators, coaches and teams? It sounds like you're commenting on a sport for which you don't even understand the rules.
On top of having invested a large amount of money in this company I bought shares on market after the placement announcement to try and support the 30c price because I could see that there was a risk that the SPP would be a failure if the share price declined below 30c. During this time Ratty resigns, which undermined the entire capital raising process, yet he announces that "
I will continue to remain a strong supporter of the Company through my material holding in the Company and have further demonstrated this with my recent commitment to participate in the $6 million Placement, further increasing my investment". This announcement compelled me to keep buying shares on the market (in my case they were DMA CFDs (direct to market contracts for difference that do actually trade on the market and therefore affect supply and demand - in the hope that I would support the AHZ price and therefore support the SPP effort, which as I stated before it closed would fail if market support did not continue).
Ratty selling a few million shares within days of this comment is certainly not being a "strong supporter" or "increasing my investment", is it? If it's not true, then can it be called a lie? If it's a lie then we're looking at an illegal act of market manipulation to prop a market that he was undeniably selling into. If it's not a lie then where's the explanation as to what is going on? I have sought comment from the company on this matter and received nothing, which is a serious concern.
This is all on top of #1 shareholder Minderoo heading for the exit and WP's reputation going down the drain with his absolutely adamant promise to never need another capital raise again.
These are very serious matters and have resulted in share price destruction. For the amateurs that don't get what I'm talking about - look at the share price and wake up to the fact that the market is demonstrating very major concerns here.
I don't know how much more management can f**k up here before you'll accept that you're being let down by the people that your money is supporting. Thankfully wiser shareholders have voted accordingly and awarded the apathetic board their disgraceful first strike.
@iceman.11 - IMO: my solution is that management NEED to explain why Ratty sold despite formally releasing an ASX announcement that was absolutely contrary to this action. They also need to explain how the placement funds would be allocated (quantitatively) and explain to shareholders if there are any covenants on their loan that might be breached (something a few of us are worried about). Finally, if they don't meet the current quarter targets they may as well resign immediately because they can be sure of that second strike at the next AGM. WP was never meant to be a permanent CEO. If they will fail in current targets he'll be proven to be ineffective as a leader of this company and they should be looking for the permanent leader that they needed to have all along.
(20min delay)