the begining of the end, page-5

Hi Beany,

I agree with all the points you have listed about Howard Renshaw and the current management's performance. Not only their performance has been dismal they managed to line their pockets and haven't disclosed any of their dealings or financial transactions to the market.

Look at all the strings that were attached with Howard stepping down, they still havent disclosed how much he is being paid at the moment and the golden handshake amount he has received for his poor performance.

However, the link I have pasted in the thread also talks about Jayaweera's performance in his previous company. Are you telling me that he is clean and has no personal motives besides feeling the pain of us poor share holders?

Did you read that when he was in charge in the previous company, he tried to buy into another company in which he had more than 40% interest?

Isn't that called conflict of interest?

Secondly, he was dealing with another chinese company but in that case, it seems that it was more of selling the stake rather than buying which ended up in take over. The management sort of convinced the market that it just happened in hours or days and this article says that the plan was being made months in advance. The drama in the previous company was almost flawless until someone started looking into it deeper.

So if you believe that we will come out of this mess with Jayaweera's help, than its the best result for everyone involved. But if suddenly things go the way i am predicting, people shouldnt turn around and say that we didnt see this coming.

I dont have a solution to this mess as now even if we find someone who has the right ethics, its still the Chinese owners who will make the final decision. They pretty much own this company and i feel our fate is sealed. I just hope the take over is in 2 digits rather than dumping the price and giving a 100% premium offer. i.e drop the price between 2 - 3 cents and make an offer of 6 - 7 cents. Looks wonderful on paper doesnt it?

All in all, they have put up a great show by involving all share holders and made us feel as if there are 2 groups fighting against each other. Havent we seen this before?

I still say this again, i really hope i am completely wrong but no one can prove it either way until we see the outcome. Until then my guess is as good as yours.