CIY continue their obscene contempt of the unitholders. The umpire has blown the whistle a decision has been clearly made and CIY want to use more of our money to fight BT.
The only interest CIY have is for themselves and no one else. If they genuinely had the unitholders interest in mind they would still be RE.....the crashed and burned years ago now.
CIY have the decency to accept the will of the unitholders and if you indeed have the best interest of the unitholders who have spoken clearly then respectfully bugger off......this is what the majority of unitholders have instructed you to do.
I hope that after BT take control there might be some follow up legal action against CIY who have clearly over the last few years stepped outside what was clearly in the best interest of the unitholders. Maybe oneday soon ASIC will step in and sort CIY out.....unfortunately it will be way to late for us unitholders and shareholders.
ASIC also have some blame here I for one have written 3 times hightlighting breaches in CIY governance as RE...I got a polite we are looking into it on 2 occassions. Who is meant to be on watch??? ASIC are toothless tigers!
Anyway $35K of share which are now worth zip and 55K on unit which are worth possibly 10K I would like to see those responsible for the corporate rorting being held responsible....maybe the day is drawing closer.
I am off my soap box now!!
Fleetz
CIY Price at posting:
3.2¢ Sentiment: None Disclosure: Held
