re: Ann: TJN: Update on Legal Proceedings aga... This is good news.
I read it as follows;
TJN has succeeded in getting an injunction so that CMI will not pay the legal fees for the directors. This is good because it now forces the Directors to either;
1. Decide not to proceed and negotiate with TJN, which could mean a more meaningful buy back, the reinstatement of the dividends or a wind up of CMI
2. A very costly court battle for TJN and the Directors
With Ray now not running the show it will be interesting to see if Leanne and the remaining Directors are willing to continue the cherade
I hope Troy has some really strong evidence to support his case, otherwise the constant threat of TJN may persuade the directors to give up and get on with increasing the value of the business for shareholders either by reinstating dividends or winding up CMI.
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Price($) | Vol. | No. |
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