CFU 0.00% 0.4¢ ceramic fuel cells limited

AGM Voting, page-24

  1. 44 Posts.
    lightbulb Created with Sketch. 3
    About thirty shareholders turned up. All resolutions were passed. Damien Hodgkinson chaired the meeting.
    Key points:
    An AGM is planned for mid- to late- July 2018
    The company is in litigation - the class action against Standard & Poors for poor investment of the company's reserve capital in CDOs.
    Once this litigation is over, the company will have a very small residual value of between $0.5 to $3 million
    The company has not communicated with shareholders since it went into administration as there is no requirement to do so under insolvency law; creditors only receive communication.
    The EGM was held as the company is once again solvent and a board needs three directors.
    Re-elected directors were originally appointed by the Administrator
    Major shareholder is now a Litigation Company based in Singapore - perhaps the same company as in this article:

    http://www.copyright link/business/...tion-to-test-limit-for-claims-20180307-h0x610

    It is anticipated that shares will be consolidated
    Shareholders will be notified of business plans prior to the AGM
    Shareholders will have a say in the new restructure
    A website is under construction. Details about the AGM and the EGM powerpoint slides will be uploaded to it when ready.
    Website will be http://www.cfclimited.com

    Do it's not a dead duck in the water and I can't wait to see what the new business is planned.

    In the meantime, I'm not counting my chickens before they hatch (sorry about using these foul/fowl metaphors) as I estimate my shares might now be worth $0.001
 
watchlist Created with Sketch. Add CFU (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.