ask anything, page-102

Hi pafc. Yes, I am aware that Greg was the former MD- hence my questions to him. Not often does one find a person with such intimate knowledge of a company on HC.

Re a class action, if there was to be one, Greg has said that he is having conversations/contact with ASIC. The thing about a class action is that every single holder who has been hurt (and everyone who held before yesterday has been hurt), is able to ask for compensation. This newly recapitalised company, with $35m cash, but most of that reserved for works, would be wiped out. Greg may or may not care, but I'd be interested in his response. As a large holder, he could be up for large gains from such an action. As I said, SIP and OZL ha the cash to pay out on their class actions- in fact, it barely affected their share prices (I watched both around the time), because they had the cash. From the market cap prior to this hare price smashing of RED, it seems about $100m was wiped from market cap, but more losses could have been had from shareholders who held from certain dates prior to alleged non-disclosure, and RED doesn't have that kind of money, and companies cannot use insurance for these kinds of things.

As Greg is on here, and he's having contact with RED shareholders both on and off-line, I wonder if he has a plan, and if he'd like to share it.