Ann: Meeting under Section 249D of Corporations Act Withdrawn, page-159

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Brickwalls

8,954 Posts.

1965

13/02/18

16:50

Post #: 31026895
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Originally posted by dolcevita ↑

Also I wish to clarify that I previously speculated in here that the Canadian deal fell over at a very late stage due to what must be due diligence failure.

I still think that's a reasonable assumption to make due to the extreme lateness of the situation, the fact that the Canadians suddenly shifted position on the deal and made further demands. IMO this is where things went wrong.

Surely it is more likely that a higher risk profile had unexpectedly emerged. It was claimed that the Canadians were just being baddies, but surely the situation was and is more about financial realities than goodies vs baddies.

Any audit would include any due diligence failures and that would include RM and GC's involvement in stitching the deal together.

I agree that no public release of any audit has occurred on these specific matters, I was speculating because I know an audit-covering statement comes out and that certainly is in the public arena.

There are plenty of claims made in here which are stated as facts, and rarely do people fess up about it when they are wrong.

The issue about the Canadian deal is important because it goes to the credibility of those on the Board or seeking to influence the Board. We need to learn from what went wrong and why.

I'm still hoping for the best for ADO. But it's quite a messy situation to try to unpick.

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And what of PAC Partners Pty Ltd's doings DV? I'm not sure you'll readily find anything much as far as acknowledgement of their association with the deal on their website anymore. Carpets sweept?

ADO Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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