ifca deal, page-3

Optimix, you too have taken it to an artform to reply in a new string. So to make it simpler for readers I repeat the post you replied to!! LOL

Subject: optimix dream
Stock Code: CMQ - CHEMEQ LIMITED
Posted: 25/05/07 23:58 Hotcopper Radio: CMQ on BoardRoom Radio
Posted By: abobo Views: 31
Post #: 1820467 (Start of thread) Sentiment: Sell
IP: 203.28.xxx.xxx Voluntary Disclosure: Stock Held
Since you insist on an answer on what I will do if I am the CMQ CEO, let me give you my frank unequivocal answer.

IF I am the CMQ CEO, I will publicly hang my head with shame and apologise profusely and unconditionally to shareholders (like some Japanese Executives) for:
1) Misleading shareholders that the hatched Inviro sale contract was not financed by CMQ and achieved the sale price.
2) Informing shareholder container loads were leaving for SA and misled shareholders like Optimix/Nodil into spruiking they were destined for Inviro.
3) Refusing to negotiate with the bondholders when he should know there were serious questions to how revenues were booked.
4) Attempting to be rewarded with millions of free options when he knew or should know the company was not traveling well.

The company under Melrose took on the wrong strategy of manufacturing (when posters questioned the strategy, Optimix/Nodil shouted them down!); treated shareholders with arrogance and poor corporate governance. But Melrose looks like the dream team compared to the Williams team!

The wrongs that need to be corrected:
1) Leave it to the experts to manufacture the product and hopefully at a much cheaper costs.
2) Sack and replace the whole management team.
3) Start treating shareholders with more respect by releasing clear unambiguous news instead of Teflon and hatched contracts.

Having said this, Williams had wasted CMQ last opportunity. It is too late as the bondholders clearly had CMQ by the shorts and curlies. Losing the appeal is instant liquidation. IF in the unlikely event, it wins the appeal, its future depend on getting financing from death-throe financiers like Mizuho/Shark/IFCA or whatever shape and name they come in because main stream financing sources will not touch CMQ! Put simply it is selling out the carcass to death-throe financiers.

LOL I remember Optimix/Nodil lauding Stark as honorable International Bankers just as he laud IFCA as the great St.Banker!