Hi all. I received a letter from McInerney Holdings Pty Ltd today. The letter addresses shareholders of three companies;PDY,AGU and YRR. Without getting into to much detail,as I'm sure most of you have or will receive it,there is some interesting reading. It seems the current management haven't done themselves any favours by not disclosing the 'Streamline' and 'Briefing' invoices of work,and the shares they have allotted themselves and family. The letter goes on to recommend the take over offer from 'Fe Limited'. As an option holder of PDY,as far as I can see there is nothing on the table for option holders so I certainly wont be voting for this. However,I was taken aback by the detail of this letter and would like to hear from other shareholders regarding its contents. I cant believe how much trouble these guys are going to,to reinstate themselves on the board. There must be something in that ground that's worth the effort.
PDY Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
