BOD coup24 Apr 2024 05:35
The new BOD is hell bent on recovering value at whatever cost from AAA. Shareholders are now being unilaterally punished through dilution as the company attempts a path to recovery. Why such a low value ? Well that’s obvious, there’s certain large shareholders that the BOD don’t want along for this ride…. It is only for a the select few, the HNW that have organised the BOD coup some 18 months ago. Some of us didn’t even know this happened, and since then there’s been no news of anything but this fresh initiative to dilute over and over. Once the BOD have diluted everyone to death they will close shop and sell the assets of AAAC to a bidder, thats the pay day for the persons behind this coup. No one can stop this now, a request for an EGM has been dismissed on 2 occasions now, the latest by AAAC BOD and themselves discrediting the proposed new BOD, apparently they’re not towing the line of the new dilution objective. The company isn’t run by shareholders it’s by the BOD that have control. This is very peculiar as they claim to being only paid in shares, when we as shareholders we had to pay for them in advance. This BOD will come in a screw everything up for everyone involved but themselves and their close allies. Don’t be surprised that the placing has taken full offers, but the offer of a cash raise to old money is not taken up. Suggest you use your money and find out how to get your nose into the trough in a different way.