Last year when we first went into a trading suspension with the obvious conclusion that lots of relevant information had been with held from shareholders, I pretty much wrote off my entire investment in FFX in my mind. Nothing that has happened since has realistically changed my mind on that, with continued lack of real information.
IMHO the only way we would ever get real information was with a change of BOD, the lot of them. Again IMHO the BOD has continued to fail in their obligations of continuous disclosure to shareholders, so why should we 'trust' them??
Just because someone has no had experience of being on a listed company BOD before, doesn't mean they are not suited for the job. Remember none of the existing directors had experience until they did it for the first time.
There is every reason for people that have not yet voted, to vote, or for those that voted for the BOD to change their minds to vote them out.
The main reason being.... How could a new BOD do a worse job than the current mob?? Paying cash to a corporate mob to sell an 'asset', that has been written down to ZERO value!! If Morila is worth zero, then appoint VA to wind it up, unless of course there really are skeletons in the closet you haven't informed shareholders about!! (In which case you have not kept shareholders informed as per your obligations anyway!!).
There is no plan offered simply because the old mob failed to keep shareholders informed of all the facts. It is very prudent of the new BOD to not have any plans until they get all the information necessary!!
Trust in the new to get to the bottom of what's really going on and look after all shareholders best interests, they are not doing this for the money (as in wages), unlike the existing BOD. They are people stepping up to the plate to take on a potentially very hard job.
A big thanks to Gareth, Franky, Garry, Zoran, Fooca and everyone else involved in making this happen, and good hunting come Monday. IMHO you don't need good luck, as today's 'announcement' by the company is a clear indication they are worried about the numbers, which means they do not have the support of large shareholders they are in communication with for an easy majority.
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