Another thing in my opinion worth mentioning is the Title of the...

Another thing in my opinion worth mentioning is the Title of the Chair of Meeting, namely Michael Watchtel. Just in case you guys bought this stock recently or not known of the name, basically, the Chairman is RG (Raphael Geminder). However, because of his role and also as the takeover bidder and the one through his subsidiary companies like Kins Group, Bennamon, Savage etc,,, that put votes of 88% of company shares to be in favour of delisting, he can not be the Chair of the Meeting, it then comes down to Michael Watchtel to be an interim Chairman for the upcoming Meeting to delist the company.

Michael Watchtel is a Director of Pact, but back then, since October 2023, he advocated to refuse the takeover bid at 68 cents/share so we trust him and we casted the votes for him to be re-elect as the Director of the Company. But by December 2023, he turned around and suggested all shareholders to accept RG's bid at 84 cents/shares. His name carried on to at least 5-6 monthly in target statements to tell shareholders to surrender the shares and he got paid almost double his annual salary for that works. By June 2024, the takeover fails according to the media. By November 2024, upon another EGM, he explained that instead of $180 k AUD per annual, he got paid according to Fair Work Act for his meetings to promote shareholders to accept to RG's bids and therefore, he got paid over $300 k plus that annual. HMMM!!! How about shove it up your **********%%#@!?

Therefore, I doubt his integrity as being served in the interest of all shareholders to conduct the meeting properly, and well, if you have to go down to the details, his role is sitting there quietly and still being paid for our long hard battle for the fair price! Of course, it is right in his duty for being so. Fair price is never his role to deal with, but also worth his role can be sitting by a pension elderly or a Centrelink unemployed man/woman, whose do nothing but sitting there to say his/her name and the reason to sit there. Should a proper Director spelling out a fair price, we wouldn't have a fail take over bid and the remaining 12% still swindle around in what so called 'Democracy', are we? This remember me of the Big Fellow China vs the Rebel Taiwan in the world war battle fields right now. I am Vietnamese so I care little of what 'once upon a time in China' btw...No racist here, I am Asian too.

In the future, I could be wrong, but should RG launch a creep buy in after the EGM and until delisting time of July 16th, I won't be surprise that this Michael Watchtel, being as the interim Chairman for this upcoming EGM meeting, will put the constant announcements to tell holders to sell on the market before it is too late. What could go wrong? If the price drop further and you tell me to sell to even push the price lower and walk out with realised loss, it's everything wrong. Who are you to tell me to sell out my 7-8 years of investment? Err... being an interim Chairman for 1 or 2 events? do Hotcopper know how to say this 'F****$$@@@@CK YOU' lol


I know my English is not good but this is what I tried to tell you guys after 7-8 years of holding this stock and watch it on most daily basis (sadly more negative than positive). Back at the time, I believe on the book value of $1.5x/share and by my calculation should they sell the crate pool division, it is still worth $1.20-$1.30/share) of book value. If business and leverage up, this could becomes like $2.60-$2.80 + dividend and a bit of premium should push it to close to $3. My belief has not changed even when it dropped to 54 cents and then Raper's valuation turned up to prove to be close to $3 and now facing delisting too. My animal's instinct is not far off track comparing to the most sophisticating modern's measuring like a banker, you know?

In my humble opinion, all I am trying to tell you is be prepare for another mentality challenge in your life, as Pact and Michael Watchtel will/may write to us on ASX even in last minutes to tell you to sell on the market, even at 78 cents or lower and through your selling, price comes lower, just like in the last take over bids. I believe their mentalities haven't changed. This could create chances for new buyers and even for RG to scoop the shares at lower price. This mentalities only hurt holders, I think. I believe my belief helped me out during RG's 9 months take over bid so my intuition is that this Michael Watchtel will run his name for the 1 month after EGM to urge some sort of advices to sell out on the market. like his stupid ideas in the first 6 months of 2024, I strongly urge shareholders to listen to my belief versus his upcoming advices, unless contrary occur. This is not an accusation but from a guy's belief that stood opposingly his 6 months' advice on the target statement and I am still HERE! This question me to bring this up at the upcoming EGM with Michael Watchtel! I don't see my participation with Pact's investment since 2017 lower my standard compared to a part time Director with the other half at SEEK!

Just my opinion.