I have to acknowledge that I find it embarrassing to post here....

I have to acknowledge that I find it embarrassing to post here. Embarrassing because I stupidly held onto shares in this company, because I stupidly belived the revenue projections of NEO Korea and the recommendations to go ahead with the "One Company Transaction" from our independent audit, whos assessment was based on information provided to it by NEO.

I am sure that many of my fellow shareholders "share" my sentiments.

THERE IS A NEW WEBSITE www.icashpayments.com.au This website is a source of shareholder information which is being posted by our current board of directors to enable shareholders to decide who to vote for in the bid to replace the board.

Our choice (my choice) is quite easy, I believe.

Our current board is made up of five members, two of whom were seconded to take control when James Manney and Tony Tang quit. They were (I believe) both sold the merits of the OCT (one company transaction) and proceeded with the independent assessment and positive recommendation. In Feb these two directors declined to proceed with the OCT because of the halving of projected revenue from NEO Korea.
Since then, they have "circled the wagons" and withstood a mighty South Korean assault on OUR COMPANY. They need to be commended for this.

They have recently been joined by two more directors, (one ex director) and another from Octavian Capital. Both of these have considerable "skin in the game" (one only quite recent though) In fact both these directors joined forces recently, to cause a spill themselves, for fear of finding our company in the position it now finds itself.

So that's four, the fifth is NEO Koreas "Man" on the ICP board. Nothing more to say about him!

Korea, I believe, wants to stage a "reverses takeover" of ICP. (I should here acknowledge to the wisdom of a number of past posters who alerted shareholders to this 18 months ago. You know who you are)
I believe if they are successful, I will loose what little is left of my stake. They will take the cash left from the sale of our business, to bolster and expand their own "now questionable" business. Then maybe sell the shell? I don't know, but what value we have now will be gone.

I would DEARLEY like to know what has induced messes "Garry Bonaccorso, RLB Investments, Renlyn Bell Investments and Robert and Susan Gaal, to put up their shareholdings to support NEO? in its desire to spill the board.

In supporting our current board shareholders, we are being assured that the cash will NOT go to Korea. Our market has dropped 10% recently, I am quite bearish and would like to think that our directors could look out for "opportunistic investments" in the near future.

If this spill fails, ICP will still own 60% of NEO. I can imagine Hyosung (a Korean competitor) or another business, may be interested in purchasing our 60% of NEO?

So for me its a choice of "something" or "nothing"

For me there is also another reason that drove me to make this post, despite my embarrassment, I believe I have been taken for a MUG, an AUSSIE MUG! All those announcements about "in shareholders best interests" LOL

Anyway that's my rant. Over to you now. Be kind, I'm seriously embarrassed.
VOTE NO.