You are spot on in relation to lifestyling as a BoD or Exco of an ASX listed or even privately listed company. I could name 20 companies straight away that fit this profile. I've known a few HNW individuals for whom listing on the ASX, as opposed to thriving on the ASX, was always their plan. Float, bloat and gloat.
it also shows that corporate governance in this country is a sham, largely because those who hold power have a vested interest in this trickle up effect.
and also why I laugh at people who partake in the latest Birchall microbrewery offering...all of which investors say will 10x, but they never do.
fortunately I took amit997 advice to bail yesterday so I'm unscathed. I may return. A week after TH is lifted, I could see price declining 10% below cap raise value, and then again in case of likely shortfall. As pirate said, maybe time to bounce the daylights out of this and trade the volume and variance, but gee it won't be easy picking the bottom.
SVL Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
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