I am very disappointed with my investment in FUL and the directors ( Michael Boyd Chairman). I bought as I thought the Iridium holding had great potential.
As you can read on Iridium.com website the growth has been good.
I was disappointed that FUL used their stake in Iridium as security for a loan to assist FULs "purchase" of AHG.
AHG is now in liquidation.
When one reads AHGs asx released announcements (esp.08/01/07) it seems the formal sale agreement was signed with Covenant Nominees ( an entity associated with Michael Boyd).
Soon after AHG is in FUL (via a subsiduary)
I am unsure how this occurred if Covenant Nominees was the purchaser of AHG.
Any way these are my ramblings only, I may be missing something.But still disappointed.
I am very disappointed with my investment in FUL and the...
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