This is a good example of how NOT to follow best practices in governance. Te company has show total hypocrisy in every announcement about improving governance as this farce yet again demonstrates.
If you get a project from a former Chsirman, developed while he was Chairman of CDB (by announcements, linkedin and company profile) then you would do extra due diligence and ensure full public disclose and not throw shareholders money down and hope for the best.
Got to ask yourself.. If the project was so good and Pierre was flogging this for 3 years then why no other takers but CDB? No one is fooled that this was a deal to help out CDB.... these guys don't work that way. It was yet another means to get cash out of CDB.
By valuing CDB as a shell (current market capitalisation) the market is saying all these supposed projects are valueless (worthless).
Run, don't walk away as the Darby Team haven't shown one viable option to transform this company from the penny dreadful stock that CDB has become under their guidance.
CDB Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
