MFD 0.75% 66.5¢ mayfield childcare limited

A big thanks to Riversdale Road

  1. 3,930 Posts.
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    I think this deserves its own thread.

    Personally I'm very grateful to Michael, Simon and Jack who have led this and given us small holders a voice. I have never seen such collective response from the minority shareholders. 78% of the non genius aligned holders agree that this board should go - thats unprecedented.

    I believe it came down to 1-2 large holders in the end - why because as a small holder i was never contacted by Genius. What this large holder saw is beyond me - the evidence of mismanagement is in front of everyone - is this support unconditional and for forever - remains to be seen.

    Riversdale effort has also ensured that Mayfield publicly state how they would operate coming up and ensure shareholder grievance are heard and managed properly. But considering Genius is their lifeline it remains to be seen if they are willing to bite the hand which feeds them.

    I think we are probably in for a rough ride as fed up small holders sell and move on as no existing or new fund will touch this with a barge pole and i also fail to see how a takeover offer could come with such a messy board/major shareholder relation.

    I dont have any confidence in this management so i wont hope against hope but worst case - by end of next yr AGM we will have 2 strikes and mandatory board spill. That should see our fortunes changing.
 
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