So, the directors “survived” the 249D? Let’s not kid ourselves, it wasn’t shareholder support that saved them, it was pure tactical manipulation dressed up as governance. 100 million shares issued at lightning speed, no shareholder vote, shoved into a "third-party" trust, conveniently linked to Leslie and Izzak’s long-time associate. If that’s not a middle finger to every retail holder on the register, I don’t know what is.
This is a web of connections anyone can trace: Jalein, Jolyn, PET FC, Pinny, Woolmaton, Rilukin... all looping back to the same backyard network. These aren’t independent corporate entities, they’re chess pieces, moved around the board by the same hands. The fact that HotCopper deletes posts for “defamation” when people dare to highlight these links only proves how touchy this all is. Maybe the truth hits too close to home?
Leslie and Izzak may think they’ve pulled off the ultimate mates-rig-the-vote play but the stink this has left behind? That’s not going away. Not with ASIC watching. Not with investors waking up. And not while shareholders remember exactly how 100 million free shares rewrote the outcome of a vote they were never meant to lose.
BYH Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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