McGlinn vs Welker

OMG! I am in complete shock as to what I just uncovered in my latest company search of a Welker company.

My second query is about the trustee company to Welker's family trust.

In X64’s recent shareholder statement on its website, it basically said:

P. Ryan Welker & Co. Pty Ltd, being the corporate trustee of Mr Welker’s very own family trust, was run by Mr Welker and the wife of Mr Williams as its directors [in June 2022].

A quick company search of this trustee company to Welker's family trust shows that whilst Mr Welker came on to join Mrs Williams as a director in June 2022, Mrs Williams was and had always been the sole beneficial shareholder of this trustee company and had been its sole director from 2014, up until Mr Welker joined her on 7 June 2022.

Say what!?!

This brings me to my second simple question.

Q. Why on earth would Welker appoint his business partner's wife to control his personal family trust? Especially when the trust had such valuable assets, including substantial shareholdings in Vitrinite Holdings.

So many questions...

Explain yourself Welker. The shareholders deserve answers!

Very astute observations. Not sure if we have met you but would love to connect sometime. You don’t even need to tell us who you are. X64action.com