Jooboy -
Congratulations on your buy in Aristocrat - I don't follow that stock, can't comment.
Every situation is different though. We have to make decisions with the information available to hand at the time. Whether or not to support the SPP is one decision we have to make today, as shareholders. To ignore the decision is effectively to decide not to support it.
It's not a clear cut decision, and there are strong arguments on either side. It's quite possible that either decision could turn out to be the 'winning' decision in the long run.
It may well turn out that my support of the SPP is the wrong thing to do. However, at the present time, even with all of my misgivings about the current board, and in particular with my concerns about them holding their hand out again in 6 months time, I have made my decision in favour.
I do not believe that directors in any company deliberately "scuttle" the company, as you call it. The company is their gravy train, and they will milk it as long as possible. Please read carefully - I am NOT saying that directors always have the long term interests of shareholders at heart, far from it.
The positives should not be ignored here either. They do have a device that functions, and they are well on the way to FDA approval. In my experience, when directors are on the board SIMPLY to pay their own salaries with little intention of delivering long term shareholder value, the "project" never gets to the approval stage. It dies, and they find a new project to promote.
In this case, we have approval in the EU, Australia and Asia. We are a long, long way down the track for FDA approval. So in my view, there is much more substance here than in some other companies I've followed.
We can only wait and see.
VCR
ventracor limited
