To be honest I have seen this comming and have given warning to shareholders about this scenario comming right from last year, but kept being called down ramper!
The pressure should be on the board and CEO right from 2010 year when consistent failure in production target not met and performance of contractors not deliver half of the target. Risk advert actions could have carried out to advoid this scenario, rather than keep pumping money and following the path which everyone knew led to nowhere.
unfortunately the market now filled with this typical board of management they are there to suck the company dry not to take any responsibilities, see when thing get hard they all throw hand up and walk away and easy option would be call in administrators.
They should be made responsible and have a lot to answer for! May be it s time shareholders should put pressure on ASIC to clean out the market of these dodgy performers, start with holding them account for every decisions they have taken which led the company down this path. Every penny they earn from the company should be reclaimed. These guys should be put in red book where they never led another board or manage another company again.
did you know that PLA company secretary is the third highest pay women executive in Australia who also sit on the board of many other company? Isn't the role of the board of director there to oversee what the heck the CEO doing and where he leading the company? In this case shareholder were left in the dark again! shareholders know zit about the state of the company affair...great board of directors PLA have.
PLA Price at posting:
6.7¢ Sentiment: None Disclosure: Not Held
