I agree gself, the lack of an independent valuation was reprehensible in my opinion, and something the EAR directors certainly should have demanded on behalf of shareholders. It is also something that the ASX and ASIC should write into the regulations as obligatory for these takeover type circumstances.
The system is not set up to support small mum and dad retail investors, just as the banks also do not support them in the real estate and investment markets.
We now have 90% of the world's wealth controlled by fewer and fewer individuals and companies, and it's getting worse every day. This occurs because the systems are controlled by them, and effectively rigged.
Throughout history, whenever this has occurred to such levels, we have seen insurrection, rebellion, revolution, civil war, and the collapse of nation states. We learn nothing as humans, because throughout history it has happened over and over and over again.
And as we all know, government royal commissions do very little, except investigate.
The bottom line, if this financial trend continues, indicates that there can be only one result, and that will look very similar to the storming of the French Bastille, all over again, the cause of which symbolized the financial abuse of power by those in authority and control over it. The masses revolted.
Gw
EAR Price at posting:
33.3¢ Sentiment: Hold Disclosure: Held
