How can they spent US$18m in the RMB2800 (AU$6m) cow farm? Farm big enough? Or ipo money stolen to somewhere?
He confirmed his sister owns the farm pre-owned by CDC during IPO, and no date arranged to return. The reason is that the farm owes some bank money so unable to return it to CDC, what about selling the farm and return ipo money? Incredibly he does not know his sister owning the farm?
My feeling they just want ASX delists CDC, what this ann saying they are ready to challenge all. How many rules they failed and confirmed in this ann by themselves, transferring the listing company's key asset without any disclosure to shareholders, is that legal or a crime?
As they are in a different country, we are in a weak position to chase them, going to be a lession for everyone.
CDC Price at posting:
6.6¢ Sentiment: None Disclosure: Held
