News: LVT Livetiles Announces Legal Proceedings Against Certain Units Have Been Settled, page-10

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25/10/20

11:58

Post #: 48365170
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Originally posted by glendronach: ↑

"$8m hurts but immaterial in the scheme of things."

Are you kidding me? $8.4m down the drain - CASH - to fund karl allegedly effectively trying to pull a swifty on his bro according to the media ? Its VERY material - equating to nearly 3 months revenue. Yes it fking hurts - you got that right! But you are either an insider yes man sucking off the soft underbelly or you numerically illiterate. Lets say the $8,445,000 was paid out as a dividend instead of being pixssed up against the wall. As at 30 Jun 20 we had 871,393,902 shares issued. That equates to $0.0097 dividend per share. So lets round it up to 1c. For me that would have resulted in a dividend payment of $2,700. Imagine the effect of that div on the SP.

Founders taken a decent piece of pain? What planet are you on? They are the authors of their own folly - but we, the shareholders have to pick up the pieces. (as usual) and bail them out. As at 30 Jun 2019 there were 624,707,227 shares on issue. Accordingly in the last fin year we have copped shareholder equity dilution of <40%! Is that immaterial too?

On 1 June 2018 we were told " LiveTiles regards the claim as frivolous and without merit". Now we are effectively told in the latest annual accounts the claim is so bloody large we can't quantify it! What the hell happened in the interim? yes - they should take a decent piece of pain all right! We have had to rely on some informed HC posters and a couple of articles in some non-descript advert filled IT publication to find out what has been going on. The shareholders need to be treated with more respect. We need a full explanation as why the bd has approved this cash payment and why our subsidiaries are being held accountable for the decisions of directors. Karl must have slept thru his law degree lectures. But - hey we do not admit any liability! We were just feeling generous on the day! More follows - watch this space.

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Want cheese with that whine? Your arguments are largely based on SP, which is up.

LVT Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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News: LVT Livetiles Announces Legal Proceedings Against Certain Units Have Been Settled, page-10

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