CNL's Announcements incomplete, page-3

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Jshawks

121 Posts.

08/02/16

17:27

Post #: 16969435
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Originally posted by Jshawks ↑

The Board may not be telling us the full story, omitting some important facts, maybe they need to keep their pay going, Mr Nic Clift on his $320,000+ has it going until May 31 this year, not bad for a company with no assets, no listing, and only an arbitration. It still is amazing that this company needs such a large board, Chairman Martin Broome $60,000, Timothy Markewell $40,000 and Su Ann hIGGINS $40,000, almost $500,000 for a board for this company, amazing.

The auditors at least have put the board on notice, but it looks like they choose to ignore them as the accounts were one year late for Deceember 14 , and 6 months late for the annual report. No presentation or information, chairmans speech or letter from the AGM, the lack of communication looks very bad, what else is being hidden from the shareholders.

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I had a look at the ASX swebsite and they said AGM is:

Annual meeting of shareholders required by law where directors inform shareholders of company performance and future prospects. Shareholders vote on board elections and significant company issues.

We the shareholders not been informed by the Directors "of company performance and future prospects." The only thing they are concerned about is themselves, as shown in the resolutions, their remuneration and their election.

CNL Price at posting: 1.0¢ Sentiment: Sell Disclosure: Held
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