Rights issue shortfall closed, page-2

From what I can tell, the new directors are from NEC, trying to get their own business listed by taking control of PZC.  The recent short term director, Peter Chai, was also from NEC.  He also owns the company that defaulted on the share issue underwriting, the same company that had it's financial services licence cancelled for failing to lodge reports with ASIC for more than 4 years.  

imltho - The only hope for PZC is that the TJM sale goes through.  Unfortunately, considering the late stage of the due diligence, and the fact that a Director of PZC refused to honor the shortfall, my hopes on this are fading fast.



http://asic.gov.au/about-asic/media...-of-investment-advisers-alliance-pty-limited/