So Dossa - what comments do you have regarding this letter to...

So Dossa - what comments do you have regarding this letter to the board - You know who the author is and was one of the largest supporters of the company posting on these very threads in the years 2006/2010 - How are the concerns raised in this letter substantially different to the comments raised by the realists here ?

This letter and several other topics are in the public domain and can be read on their website - clearly they are trying to get this information out in public - why so then the angst of the same issues being raised here ?

Then we had the AGM where another long term shareholder was rallying support to approach ASIC about the way the meeting was shut down without an appropriate amount of question time being allocated to answer shareholders concerns.

Full Letter to the CDU board here !

Extracts below !

These are not my words - they are according to the website words that are
supported by a large number of shareholders with holdings totaling around 30 million shares

KEY CONCERNS

 Vested interests exerting control at board level whereby nominee directors are voting on matters where they have a pecuniary interest.

 Major shareholders acting in concert with the above mentioned directors to facilitate a change of control event (take-over) without an appropriate consideration of the Company’s fundamental value and without an appropriate take-over premium.

 Unclear relationships between key stakeholders and key affiliates such as for example the relationships currently in place with Board members and the previous CEO, and with Board members and entities such as the Infinitus Group and the new Singaporean Chinese Group who this week put forward an unsolicited funding proposal.

 Public misrepresentations made by the Company including public misrepresentations made under the leadership of the former CEO.

 A lack of appropriate disclosures regarding Company dealings that have critical implications for all shareholders

The conflicted Board has resulted in much damage to the Company’s standing. Despite very major achievements made by the Company, its poor public image stems from:

 perennial failures in being able to deliver on promises in a timely manner.,

 misinformation disseminated to the market in announcements, in private briefings and in public meetings,

 very significant cost over-runs, and in recent times,

 obvious attempts at seizing control of the Company using stealth and through abuses of Director responsibilities.

Back to you Dossa !