The Script "IOU's Story to investors"., page-2

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kevin103

15,816 Posts.

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19/04/23

18:58

Post #: 67362270
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Originally posted by AussieHopper: ↑

IOU has employed the services of AUTOMIC to call all investors in hopes that they can convince you to not vote FOR the removal of the current Board of directors. The following is a transcript of call you may receive and what they have been paid to say to convince you to not vote them out.

As you may be aware, an extraordinary meeting is being held on the 3rd of May 2023,
following the requisition by Clee Capital and interested third party to replace your current board of nominees.

The EGM has been called by Clee Capital and a small group of other shareholders,
Clee working with the company's former CFO, who's currently being investigated by the Malaysian police for suspected significant fraud against the company.

The board discovered and stopped the fraud and it's currently taking legal action to recover the money that was misappropriated.

At the same time as calling the EGM, Clee Capital commenced action in the Federal Court of Australia, working together with the former CFO, who provided a witness statement in support of Clee’s action.

Clee tried to obtain court orders that would have hampered the company’s attempt to recover the missing money.

Clee also tried to obtain orders preventing the company from borrowing or raising money for working capital and other purposes.

This would severely prejudice the company’s business and make it more difficult for the company’s shares to be restored to trading on the a ASX.

Clee’s action in the Federal Court was dismissed the cost awarded in favor of the company.

But the board is seriously concerned by Clee’s motives in working with the former CFO and seeking these orders.

At the EGM Clee and requisitioners will seek to remove all existing directors of the company and install three directors nominated by them.

The proposed replacement directors have no experience or qualifications at all as directors of listed companies in Australia or elsewhere.

The current board has far greater depth of knowledge and expertise in operating the company's business in Malaysia and Indonesia, as well as significant credentials as directors of ASX listed companies Clee and requisitioners have presented no positive plan to improve the operations of the company or restore value to shareholders.

The board seeks to continue its effort to recover assets misappropriated from the company.

This can only be assured if shareholders vote against all proposed resolutions.

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"The board seeks to continue its effort to recover assets misappropriated from the company.This can only be assured if shareholders vote against all proposed resolutions."

Who can explain why current says only THEY can assure the return of the missing funds?

Does that make any sense? The independent auditors and police would be able to sieze the funds and return it back to IOU - without the current BOD lifting a finger is it not?

Last edited by kevin103: 19/04/23

IOU Price at posting: 4.1¢ Sentiment: Hold Disclosure: Held
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