Websurfer they had to sell the farms because the loans were called in. The AGM was adjourned not because Sexton was concerned about shareholder collusion, but to buy him time to exit on his terms. Is that fraud? Shouldn't the board be in caretaker mode until the reconvened AGM? Surely it should not be making decisions to benefit board members. Sexton has been paid annually on what the assets were purchased for no matter how badly they performed. Those assets have ALL performed badly and shareholders have paid for Sexton's chosen assets, however he has been continually rewarded for those poorly performing assets. They have all gone except for the factories and Scorpio and yet he is still paid based on their purchase price even though they are no longer held. This must surely be fraud. The shares listed at 35c why should he be issued shares on his departure at a discount to the issue price. ASIC and the ACCC should be investigating Sexton and not the shareholders.
Websurfer they had to sell the farms because the loans were...
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