Ann: Administration Update, page-18

I really feel for GCY shareholders, the directors depart with apparently no impairment, one must question if this is legal.
Unfortunately, GCY is not the only company, that is or has been run by "dodgy" management.
I could name a few that I have been directly associated with over the years.
To rub salt into the wound, they'll pop up some where else and their crusade rolls on, at more shareholders expense.
ASIC, what action do they take? Look at retiree debacle going on here in Perth at the moment! Further to this, the mob was allowed to drive the dagger in another $8mil, after ASIC had been made aware of the situation....... Or is ASIC, overrun with dodgyness, they cannot cope?

Anyone else, applying for a role these days, is scrutinised to the back teeth and required to provide a list of referees, with as many names as the Shanghai telephone book, to get past first base. Clearly not the case with incompetent BODs and their cohorts.

Reality unfortunately is, if they can't make a dollar when the AU price is high, it'll be a struggle, when the price corrects.

Personally, I've been watching GYC for long enough, with the view to buy and was about to when the notice came out.
I'll watch the outcome of this with interest.