It became evident with the massive decline in share price from the day the merger was announced that something was wrong.
The few announcements the company made since then spruiked they had lots of cash and were looking for acquisitions or even a capital return??
Then last week, OH sells a heap of his shares due to a margin call?? Then this refinance garbage comes out of the blue.
The fuss is, there has been no disclosure. It is obvious now the reason for the massive drop in share price. It is the same old story, the poor old pleb shareholder gets burnt, while those in the know sell their holdings at whatever price they can get on the way down.
I bailed ages ago at 1.50, losing over 30 000 dollars. If I was still in today, my position would be considerably more dire.
OZL need to be taken to account for lack of disclosure. I have started investigations into legal recompense. Class actions have been started over smaller breaches than this. When one begins, I will join the action.
The fact the company is trying to hide behind the credit squeeze as a smoke screen makes me even more angry, they just might get away with their massive deception.
OZL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
