does anyone still follow this company?, page-7

Cheers vrumm.
This one is really coming down to a very important few months ahead. Surely the majority of shareholders would prefer to take the cash and move on around this time next year rather than get invovled in something completely new?

That is unless an extremely attractive investment opportunity comes along. The chairman has advised that any investment will only proceed with majority shareholder approval. I would expect that the majority of shareholders are like me and would be very happy just to take a dividend (close to fully franked) and wind it up and move on. That is the reason I invested in it and not to get involved in anything else.

It is interesting to note that one of the directors Greg Jones has reduced his shareholding from 5m shares down to 1.5m shares in the last 9 months or so. That is not really an encouraging sign, however also important to note that another director David Coe sold 750,000 shares at average of 15.6cents in January 2009 which looks pretty foolish in retrospect. Just goes to show that you never know the true reasons for these sales (unless advised) and it may not be critical to read too much into these Jones sales?

I'm holding on to find out if common sense prevails and cash distributed or a great opporunity comes along. It is trading so far below it's current intrinsic value it simply does not make sense to sell at this point.