I don't think he wants to privatise this company at all. When the pandemic started, bunch of fundies dumped it all the way to $1.30, he and Carmen Chua are two biggest purchasing directors back then buying in. If he wanted, he already did the privatisation back then instead of buying in now. I think, he was just saving the company and for his face when presenting this upcoming AGM.
The reason for the rescheduling of AGM was simply just due to reopening schedule from lockdown in Victoria.
I am still skeptical about this sharp drop from $4.50 to current price on the basis of Sanjay's err in reporting to ASX, oil price speculation, and non numbers quarter flash updating.
I think this company was just coming out from the disaster hole, so any bad news from the company will cost them to be undervalued then its fair price. People owned this shares know when bad news come, dump it and some even shorten it, and closed their eyes, and pick it up when it's at bottom price. Every one knows this company is backed by Mr chairman and fundamentally, the company is making money so no matter how bad the share price dropped, it will come back. I guess this is what market manipulation is about.
I agreed with you that Sanjay have to announce some newly secured contracts, and also, Anita James got to spend a bit of time thinking about how she write essay when updating news to the market.
This company is very bad when it comes to presentation, the full financial year report in August is detailed, but she (Anita)or whoever wrote it don't have to suck up to Sanjay that bad to include the details of his contribution in there. They just don't step outside of the box to think what investors feel and the word 'jealousy'. And even Sanjay, when he first started his job, he presented as a promising CEO, but i think over the years, he just got suck into the old company culture and costing his face right now. Furthermore, why on earth when he got told by Asx to dump his shares, the updating were detailed and when it comes to quarter update report, Anita was writing, ok, one side is good and the other side is bad and we are keeping the bad business without any reason or solutions.
I think Anita need to correct her writing or learn how to write, as like the way she or whoever wrote the updating report just want to kick customers away, and that why there is a big joke on this forum, that they need to have a marketing team. Look at Visy, from the top CEO to investors, every one was like 'Err we are good, please buy from us', and this company was like 'Err we are not good, and the truth is we don't know what we are doing, we will keep you updated, don't buy from us'
If I were to become head of marketing team of this company, i will hire a secretary and instruct the person to write 'we have many contracts, WE ARE VERY EXCELLENT, PLEASE BUY FROM US' etc
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