Well Capt Obvious has returned to the HC forum- really I dont get it.
Your major shareholders who supported you and agreed to sell Interprac into SEQ when GC was a director are now unhappy. Instead of working through it it seems you use corporate funds to attempt to head this off via the takeovers panel.
It is a very interesting approach - dont listen to shareholders and address the issues but actually start world war 3 with shareholders money I suppose.
I must try to understand how you find victory in disregarding the unhappiness of a significant influential group of shareholders. How does a director who agrees to be replaced in 2 yeaes finds this as a win. How a director who also has a large number of shares thinks this supports a business that supports advisors. Then also there are the rumours that one of the key employees has been removed from the business.
This really can only be a hollow victory in my opinion.
How hollow will unfold. I cannot see how anything that I have seen from this company over the past 5 years reflects a well run and cohesive company.
It all started with another S249d in early 2019. Then Sargon shares had to be placed - maybe we should never have made an original placement to them. Then we went and spent $26 million yet we still don't seem to have shift changed the business seeing as 2018 was a good profit.
Then we purchase a cafe which now seems to also be in litigation.
Oh add that we got a bit of a shock when we suffered a significant loss as a result of a customer claim which it seems we have not been able to recover from insurance and other claims have also emerged.
We don't seem to record how these businesses have performed after acquisition- just create a bigger pool with no real unpacking ...
We make share investments which did not make money and now we say that is bring wound down in an orderly manner
Oh we also missed a number of mergers that seem to have happened around the company.
No we seem to be a very well run company and the ex chairman resigns.
I am xo glad my accountant didnt take my advice to use SEQ for his client's
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