I have a different opinion and preference to most people here.
I prefer the company to be taken private, ONLY if 2 or 3 shareholders here get elected to oversee things, in other words, to safeguard shareholder investments. I'm sure Red Baron, Woody, Fooca, (even) myself, and a couple of others would be willing to simply have our names registered as directors in a private company - company that is simply a holding company investment vehicle.
The eventual goal will be to return ALL monies and investments to shareholder in one large payment in 2 years time, which includes the $40m currently in holding, and the investment of that $40m over the next 2 years into a high income fund, combined with the eventual sale of all the LLL shares.
The good thing about being private, is the costs are minimal. For instance, a couple of directors, who basically have their names on the ABN register, don't even need to be paid. You don't need an office, or staff, or even to pay any director fees like $3,000 a day (which is only a rort because of listing, as is the directors own private companies being paid for secretarial and administrative costs - another rort), or pay the ASX annual subscriptions, or all the other pilferers like PR firms and brokerages and fundies, who all pile in ONLY because you are listed on the ASX - We Don't Need Them Now (WDNTN), so why not save everyone some more money !!!
We Don't Need Them Now (WDNTN) !!!
You can literally get away with minimal costs every year, of maybe only about $10,000 in total, or less, so all wealth is preserved, in fact, investing the fund's money in a high income account will increase the wealth for all shareholders, and you will be Finally FREE of the bleeders who drain your financial blood dry all year.
If anybody wants to sell their shares, it 's easy, we can run a private facility to do so, literally millions of private companies around the world do this, it's a doddle, in fact, I'd do it for nothing in my retirement, you can do it in your sleep it's so easy, why do you think so many companies stay private.
Any company that does NOT NEED to Raise Cash, SHOULD be private, it's so much incredibly safer and cheaper, you can securely mind your own money, and you tell all the financial wolves to go and play with some traffic, preferably in the middle lanes.
And when the company is private, you change the name of the company, to something like Kookaburra Investments Ltd.
It's a 2 to 3 year investment vehicle, that's all, pure and simple, with ALL funds being returned to shareholders, all safeguarded by the people here who put their hands up to have their names on the company's ABN register, just two or three of us. It's easy, and it's secure, and cost effective, and it's SAFE, because we are the watch dogs of our own monies !!!
If we can get 3 people here, who know what they are doing, appointed be directors of the private investment vehicle, then it's actually a No-Brainer.
Gw
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