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The Chinese have complete control now. There are four Chinese...

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jantimot

30,924 Posts.

174

15/10/15

16:40

Post #: 16185292
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Originally posted by BazzM ↑

I think I read it some time ago but doesn't the company have a merchant bank "helping" them. That bank would probably prepare the prospectus and surely has enough experience to do so fairly quickly. BUT they will need audited accounts and I suspect the company itself is/has prepared accounts but there are too many uncertainties, ie value of Rocklands, for the auditor to sign off. The company can and should prepare accounts including asset valuations acceptable to the auditors and without any involvement of shareholders large or small. We might like the outcome but that's where we put our money and we have to accept the consequences. The 3 amigo's don't control the company (yet) but they may be interfering too much and probably the cause of much of the delay. I hope they win control without a takeover by just wearing us down.

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The Chinese have complete control now. There are four Chinese directors and three Australian ones. And with 34% of the voting power, plus another probable 6% from the Infinitus guys - 40% is more than enough for control.

(I assume you mean "I hope they don't win control without a takeover by just wearing us down.")

CDU Price at posting: $1.11 Sentiment: Sell Disclosure: Not Held
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