Any complex problem is best resolved through simple actions. The...

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Ncept6

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25/06/19

17:15

Post #: 39231534
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Originally posted by Ncept6: ↑

I'd agree with Bundy_too. Sandon being a fund manager appears to be interested in an immediate monitory return and/or perhaps their break even is somewhere between 2.6 cents to 3.5cents.

But everything else they have stated about the GBG Management resonates the arrogant, aloof, disrespectful flair I felt as a shareholder and the following statement from Sandon summaries the looting:
<quote> In the four years from FY14-FY18, total Board and senior managementcompensation has equated to >75% of the normalised pre-tax losses that havebeen reported by GBG <unquote>. Blatantly obvious they'd pile up Millions from capital raising and then run it down their pockets over the next several years and all that the Coda shareholders will get for their money are cold, uneventful, non-factual quarterly reports lacking any inspiration.

If they don't like and respect the shareholders (as confirmed by the comments from some of their allies posting here) don't see how the same bunch would be motivated to re-negotiate a better deal here either. At the end of this vote, if they don't step down the big guys at the top (like Sandon) should bring in a resolution to appoint a new Chairman/MD, and a new Directorboard to take GBG forward. It would be shameful if they still want to forcefully hang around,

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Any complex problem is best resolved through simple actions. The GBG share price would recover the moment the board resigns. They appear to be the biggest impediment on the sentiment of this Company. And any restructure, capital rasing etc would not deliver a change in sentiment as long as this bunch is running the show.
Lets hope the shareholders would push for this. If shareholders want results the first thing is to appoint a Directorboard they can trust and believe in!

Last edited by Ncept6: 25/06/19

GBG Price at posting: 2.7¢ Sentiment: Hold Disclosure: Held
7 Upvote

0 Great analysis

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