Well I know they are never in the office as I have rung numerous times and rarely get an answer. My guess is that they are probably soaking up the sun or doing something other than being at work. And I guess if they do come in, it's probably at around 10.30am, then lunch from 12.00 to 1.30pm and off home at 2.45pm and only in on Tuesdays and Thursdays. Paying themselves handsomely for working part time. The one who has occasionally been in is Tainton and he probably needs to be there when someone from LC Holdings is in so as to justify his pay to them. Otherwise he'd probably be off with his part time nepotic mates.
It is a shame that ASX and ASIC don't have a regulation that forces directors and senior management of fund sucking companies like MNC to report and justify their hours worked against the pay received. It would be nice to see if there is any rorting going on or that they are actually working for their money. If they are incompetent then that is another issue. Unfortunately such a policy would be too hard to administer and police its integrity.
MNC Price at posting:
8.3¢ Sentiment: None Disclosure: Held
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