Hi mate,
I’ve been preoccupied and haven’t been following matters PSL related. I decided to have a look today and WOWZERS!!! Everything and everyone is going off “deluxe”. I’ll try to keep this as constructive as possible, I know a lot of people are hurting.
1. I don’t think I ever said the company were going to extend the date of the Oppies. I did say they were hoping to do something to “look after” oppie holders, possibly “loyalty” shares or the like. My information was always that it was against listing rules to extend the oppie dates. If I have said different then I apologise - I have no intentions of going through the numerous posts I have made on PSL but if you can find somewhere where I said the Coy were looking to extend oppie dates then I am genuinely sorry.
2. I haven’t spoken to anyone from the Coy for a cple months. The last I heard was along the lines of “prospectus is done, ready to go but we are not attempting a relist during the middle of a crash”. Kind of hard to argue with this logic.
3. I feel badly for the Oppie holders, just the same that I feel badly for anyone who has lost dough on any investments because of unscrupulous directors. The blame for this sheet sandwich belongs with previous management and to some extent the ASX. Anyone who wants to blame current management are kidding themselves.
4.
@voncee you may well get your wish. There is every possibility that the rest of us will do our dough too. That is the game we are in - and if it happens, I’ll dust off and move on.
5. As far as the talk of class actions and the like - please don’t make me laugh. That was tried once before. Everyone will get on HC and talk tough about it until it comes to someone having to do something, or worse still - actually stumping up some cash for lawyers. I saw what happened last time and the poor bloke that got straddled up with a measly $5k legal bill to help get this show back on the road still hasn’t been repaid his money. A class action would requires many multiples of that - so just knock up on the class action BS talk - coz I promise you it won’t happen!!
Posting on HC is cheap, we can all do it. Being constructive, organising numbers, attending meetings, communicating with management - different story. I was at the AGM last year and have seen more people around a dead snake! Where was everyone then? No one wants to do anything constructive and then when it turns to sheet bang away on their keyboards thinking it will change anything.
Despite that I wish everyone well.
