Here we go again. More fees to line the pockets of St George and total disdain for shareholders whose parcels were marketable when purchased but became unmarketable through the incompetence of the Board reigning over a falling SP.
Furthermore there is at the very least the perception (if not actual) question of conflict of interest as Directors and Company Secretary of Xceed are officers of the St George group. Why not use an independent group to buy the shares??
These people have a deep knowledge and insight into the future of the company and pick now, the bottom of the market,to by unmarketable parcels. Why didn't they do this when the SP was higher? Why not concentrate on making the small parcels once again marketable through SP performance?
The lack of independence smells badly and as usual the focus is on lining the pockets of those whose track record of performance is just abysmal - all at the expense small shareholders who are again treated with total disdain.
XCD Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
