249D Potentiality

I've become increasingly unhappy with our board of directors.

It's unacceptable to lose two thirds of the company's value over a period of months.

The directors don't return calls or respond to emails. At best, it demonstrates these directors are out of their depth in terms of corporate governance.

I question their stewardship of our company and wonder whether their focus is truly on Carnaby or some of their other corporate interests.

I will call a 249D to replace the directors if we don't get a substantial uplift in value soon.

I personally account for ~3% and my associates another ~4%. I will be in contact with three major shareholders, who between them hold another ~16%.

The directors only hold ~12%.

I believe our company's assets are worth substantially more than the market is valuing them at. The question is are we confident our existing board has done everything in their capacity to build and realise the value of our assets?

At a minimum, they could increase their interests to show they have some confidence in the company they should be steering.

I expect more and we deserve more.

If anyone is interested in being notified of any potential 249D move, please give a thumbs up to this message and I will notify you if and when it becomes a live option.