Hi everyone,
I received a response to the 8 questions which I will post in 2 parts. I only make these comments. 1.
All of us need to be careful when publishing statements on public forums 2. These answers confirm what I was thinking, and/or knew from announcements, ASX actions and market conditions over the years.
Hi Neil,
Thank you for your enquiry.
Please find my responses to your questions below.
- It has been suggested that CGB or the Feldman's still hold interest in the Birriga Road property, which also backs onto Benelong Crescent. Can you confirm if either CGB, any of its subsidiaries, the Feldman family or any of your private company entities still hold, will benefit from, or have interest in this property?
I confirm that neither CGB, or any of its subsidiaries, the Feldman family or any of our private company entities or associated entities, ever held an interest in the Birriga Road property, or benefited from the property other than being a regular arms length tenant in the property. As a matter of fact, I personally never knew who the owner was, we had simply dealt with the managing agent. Any suggestion that we have or are currently benefiting at all from the development or sale of the property is simply fake news and seems to me that this fake news is being spread publicly on social media by those who wish to do whatever they can to defame us, even if it means they need to resort to completely fabricating fantasy scenarios.
- Can you confirm that with the relocation of the main registered office of Cann Global to Castlereagh Street, Sydney, the rental of the Birriga Road property ceased on or around the time of the change of address in September 2019?
Confirmed. As soon as we had alternate offices CGB ceased renting the property in Bellevue Hill.
- It has been suggested that CGB operated out of a backroom on the property. Is this correct?
CGB operated out of nearly the entire property, with all staff working out of offices on the property, including all amenities being used for the business including boardrooms for all regular business meetings. On a pure office rental basis for space, the actual rental amount was a cheap deal for CGB relative to the space and amenities that were provided for the rent being paid by CGB at the time.
- It has been suggested that the Feldman's, during the time, that AGMPL was the management company of CGB, the two main Directors, being Sholom and Pnina Feldman, received double pay. Can you please confirm the validity of that statement?
That is simply false. We only ever received our pay through AGM, so when our directors' fees were reported in our reports in isolation as required by ASX, those amounts were the same amounts reported received by AGM, There was no double pay for us on directors' fees or salary. Whatever the amount that was reported as being directors' fees, they were the entirety of the amounts that we received for our services. The payments for those services were simply made to AGM, which was reported as such in the report. That is not a double payment, but the same payment.
PART 2 to follow...
