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
