Kismet:
Genius actions in:
1. Proposing a takeover of MFD at $1.28/share and then subsequently increasing the offer to $1.35, at the same price of Busy Bees competing offer, and then "rejecting all other offers, including the [then] current NBIO from Busy Bees and will vote all of its shares in Mayfield, being 22,678,211 shares, against any competing proposal to acquire all of the shares in Mayfield, and not to accept any offer to acquire its shares under a proposal to acquire all of the shares in Mayfield, whether in the form of a scheme of arrangement or takeover offer, effectively blocking such a proposal.", IMO demonstrates that Genius has not acted in good faith for the benefit of all shareholders (other than Genius);
AND has then gone about removing all the board and senior management of MFD despite not having a majority ownership (not >50%), holding 34.7%);
AND has continued to vend childcare assets into MFD for cash by taking advantage of a prior arrangement negotiated with the former board;
AND thus causing considerable instability in share price, shareholder value, and shareholder confidence;
IMO is totally unacceptable. Genius representation on the board has become a complete control of the board, and does not meet acceptable corporate governance for an ASX listed public company IMO. I believe shareholders should consider what avenues are available to sort this absolute mess out.
Everything I've stated above is fact, no misinformation. Anyone who disputes that clearly has either no understanding of what has happened, and/or probably has an unacceptable ulterior motive.
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