PPN will remain suspended as there are still only two directors in Trimble & Callanan. Bottazzi cannot join the board until VCGLR approves the application and that isn't a slam dunk.
I attended all the PPN liquor licence hearings at VCAT and the Supreme Court where I observed the reaction of the police when they spotted Bottazzi and also the look on Bottazzi's face when he recognised the police. I therefore wouldn't hold my breath waiting for the VCGLR approval.
The buzz from the streets is saying that this will be Trimble's last year as CEO of PPN. That could mean almost anything from a buyout to Trimble selling his shares. We can only wait and see what develops.
In the meantime PPN cannot be restored without the minimum number of directors. ASIC don't seem to be interested in making the board accountable for the numerous breaches of the Corporations Act. 'Such is Life'
PPN Price at posting:
20.0¢ Sentiment: None Disclosure: Held
