The last rites were administered to QAN at its 2023 AGM yesterday, even though the business has been in its death throes for some time, just a matter of time, not if.
We all thought that the former CEO was the entire culprit, allowed to pillage and destroy the company at will, albeit with a disengaged and remote Board.
Watching the AGM live on online, and the manner in which the Chairman summarily closed down and rebuked any type of attendee calls for explanation and accountability, the Chairman and Board, and the then CFO were all complicit and in full knowledge of the consequences, and then engaged in wholesale corporate greed.
A lot of celestial type verbiage from the Chairman and Board on retail sh issues, yet not a skerrick of detailed action plans for rebuilding and brand recovery, except for the exquisitely set out and the accompanying minutiae for (you guessed it), the remuneration report.
For QAN retail sh's going forward, almost nil possibility of any dividend, and your company is now in the hands of the same group who almost brought about its bankruptcy. One regular poster to these QAN threads got it right, QAN is merely a trading stock, ie not investment grade by any metric, just try to follow the day traders and hedge funds, nothing else for anyone, only for the elites and those invited to the CL.
Chairman Goyder is still the Chair of WDS (holder) and look at its dismal performance despite a surge in commodities, so be warned WDS holders, the same fate awaits you over time.
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