So far sitting at around 2.6 million votes (just over 1 % of the...

So far sitting at around 2.6 million votes (just over 1 % of the shares of the 5% needed), a far cry from the 11.5 million needed to lodge a 249D notice. It does show that a lot of us holders are not happy with the direction they are going but at the moment quite powerless to it as we only really have the people reading this thread that would get involved, if all holders were asked Im sure we would have a different outcome, but this thread is obviously reaching a small slice of holders.

Its frustrating to have to watch this happen (holdings going to the control of Embark ventures a company with no history of asset management, no past results to go by, whilst paying exorbitant fees for which we get no consideration) with nothing really to do other than sell out if you dont want things to go ahead the way they are.

The other thing we could is contact ASIC (1300 300 630) if they get contacted a few times about a potential violation of law, it should raise a red flag and prompt them to look into MMJ and perhaps this embark situation can be stopped, call or email saying something along the lines:

"A director (Micheal Curtis) of the ASX listed company MMJ, has propsed to allocate all of MMJ holdings to a fund which he has a substantial ownership in (Micheal Curtis owns 20% of Embark ventures - the company that is being selected as an asset manager.) There are important legal responsibilities imposed on directors under the Corporations Act 2001 , one of which is:

• to avoid conflicts between the interests of the company and your personal interests

Micheal Curtis a director of MMJ who owns 20% of embark, therefore is personally benefiting from fees, which I believe is a violation of the Corporations Act 2001"


I havent been in as long as some holders here, but it is really disappointing to see the direction they are taking when we had so much potential, even stuck on board when it changed to an LIC, however now looks like the LIC is being used to pay the management and directors, looking very dodgy indeed, and now starting to make sense why the market is not more inline with the NTA, the market does not trust this management and directors, over the next few years their bank accounts will be nice and fat selling off holdings and collecting fees for doing it even if the share price drops to 10c  they will be getting paid handsomely, little done in basic PR to push shareholder value, hate to watch it happen but now what positive catalyst do we have to look forward to? Basically only thing that can help us is if HVT has a massive year or two, in which case embark take a nice piece for doing absolutely nothing.

I should of listened to a few posters a year back and gone straight into HVT and medipharms myself :S Ive done my best here to enlighten holders on whats happening. Ill hold for now with the hope itll get back to my entry, but chalking it up as a bad trade now, a lot better Cannabis plays out there on the ASX. I would love to hear any opposing views on this to bring some hope to holders as Im sorry to be such a downer with all this , but its just the truth as I see it.