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i also have no idea how long these things take but procedures like this can take time but the recent RNS said they were doing it as fast as they can and the HKex have told CNEL they must release quarterly updates and from what i understand commercially relevant data which is exactly what we have all been asking. My hope is we get a proper shareholder update prior to going back into the Hkex to help set the right tone for strong growth over the coming financial year and make amends with shareholders who have every right to be angry. The company is fundamentally in rude health and sadly the question mark is really over the cosy duo at the top that have stayed hidden and kept information to themselves. This is the main issue that the HKex is tackling. We will find out what has gone on from the independent report but if they are found to be cleared, my expectation regardless of reality, then this must be the point the BOD radically shakes up their way of communicating and maximise the business opportunity as their is global demand at their doorstep. I agree with Topmoney that all investors should write to ivy and Richard Bennett to make them hear investors want change and if anyone has email addresses for the CEO and Chairman please share them. Personally i think a lot of investors have already done this including contacting the HKex and this could have helped this process starting. While in the short-term it is not pleasant in the medium term it could be transformative as i have never come across a company doing so well who are so secretive and doing everything they can to sabotage their market valuation. Its a good warning sign that even if you own 60% of the company with your family you cant ignore other shareholders as you will come unstuck. If they had been transparent from day 1 this would probably all have been averted. The mind boggling issue for me is if they have over £25m in equity that could all be paid out as dividends (more than market cap of company today) and if they announced a tiny £10m special dividend (with a bit of borrowing) they would get £6m cash and everyone would slap them on the back and in this case probably shareholders might accept their hermit existence but today shareholders are being fleeced not just because dividends are not being announced but also the BOD are purposely sabotaging the shareprice for whatever end i have no idea. The BOD have money coming out of everywhere so they certainly do not need to do any shady deals. we will see but i am expecting a company update as per the quarterly report expected as part of HKex demands and hope this sets in motion a change of approach.
if this was to go down the HKEX would have a serious problem on its hands as they only vetted the accounts, management and company 12 months ago, so I don't think we have anything major to worry about, the BOD just need to get this sorted and stop the embarrassment.
Hi , Yes feeling frustrated myself , i have 350,000 shares and i am getting concerned also , does anyone have any further info as to when we can start trading again or heard anything on the grapevine. Thanks.
Hi all,
Been following this chat for some time now and appreciate all the insights.
Please tell me I’m not the only one getting more than a little frustrated now?
I haven’t got as many shares as most of you; but I do have enough that it would hurt if it all went under