By all means take it up with ASIC but DO NOT EXPECT them to halt the process. It won't happen. Its up to all of us project investors growers to vote against the schemes.
A vote yes rewards the incomptence of management and the company - Rhodes hasnt even admitted this has anything to do with his incompetence. They want to sell you blue sky. And they want you to buy it because they like what you own, they can't afford to keep managing it properly and they are fearful of what you might do while you still own it.
Don't be spooked by the "doom and gloom" reasons they offer you to vote yes. Remember, if you vote no:
* the worst you can get is what you were going to get under your project anyway on the merits of the performance of the project.
* you have the opportunity to vote out Great Southern as manager - read your project documents and get organised growers. A new manager may even produce upside, especially in the younger projects.
* you preserve the right to sue GS and directors if you feel you have been misled. Remember, conduct can be misleading either by what IS said or what ISN'T said. Go see the class action lawyers who do this stuff on spec. It may be that you find the obvious legal eagles are already working on it.
VOTE NO ON THE SCHEMES
GTP Price at posting:
29.0¢ Sentiment: None Disclosure: Not Held
