A 2 to 3 cent dividend would be icing on the cake and would not...

A 2 to 3 cent dividend would be icing on the cake and would not even dent the cash balance but personally I don't think this sleepy board has any idea, corporately what it wants to do!! I note the share buy back has stopped? why?? Reading between the lines, I think the company is run by Pope Jeff who controls both the Board and the running of the Company. The Board is what I term a sleepy Board.

I am not sure why they left the reporting of the NPAT till the final line. One can only assume because of a drop of over 90% compared to last year. Begs the question , are they attempting to hide under-performance with smokes and mirrors!!

There is a current power struggle going on and I left this message in another post"

I am still scratching my head wondering what happened?? Not that long ago when Mr Welker was appointed MD, the Chairman (Mr McGlinn) was glowing in his praises of Mr Welker. Then when Mr McGlinn was appointed executive Chairman, Mr Welker returned the compliments!!.

Mr McGlinn being appointed executive Chairman raises a very pertinent point in that it is in direct contravention of the Company's Board Charter, in particular Clause 4.3 which states that the Chairperson is to be an independent non executive director!! Does this guy believe he is greater than the Company and more importantly, was the Board fast asleep!!

By anointing himself the Pope, oops sorry Chairman, Mr McGlinn has also gone against the grain of ASX Corporate Governance guidelines!! That is very naughty Pope Jeff and on that point alone should be removed, irrespective of the lover's tiff you are having with Mr Welker!!