This news is disgusting. Mr Lamond and the board have completely deceived shareholders. For years they have been touting a professional services business – the acquisition of Elton Consulting was supposed to be a key part of this strategy that we were told would help ensure the company was across projects from the outset and in turn support the survey pipeline of work. Did Mr Lamond and the board simply not understand it?
Sold at a loss which leaves shareholders with:
- underperforming survey business
- irrelevant ICT business still heavily focused on the resources industry
- organisation top heavy with executives that to date have not justified their inflated salaries
- a MD in Mr Lamond that appears to have no problem deceiving shareholders
What next, we buy back OTOC Australia?
Ann: Trading Halt, page-18
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4.3¢ |
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Mkt cap ! $21.89M | |||
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