Note for CTP Directors
Based on this Boards past behavior there is absolutely no doubt in my mind that this Board is hiding material info from its shareholders and hiding assets so they can either give control of the company away or set up a very cheap takeover to do exactly what Mr No Comment did. They are likely organizing it right now and once again it will be only to their benefit as they are trying to have the company stolen away from its shareholders...
I have already seen one major asset they are suddenly hiding that is mind blowing and it will also lower the the value of the company. The fact that they are not reporting results to date of Dukas to shareholders is another stunning bit of deception. They knew those results a long time ago. This is typical of this mob who supported Mr No Comment and the last BS TO. These guys have a sign on their backs and it is as clear as day...
The point is T4ume, that they do what they like and they always get away with it.
There is no laws that can make them accountable and, if there is, they will engage the best of the best of the legal fraternity and get away with it, WHILE THE SHAREHOLDERS WILL BE THE ONES FORKING OUT TO COVER THEIR COSTS.
Facts mate, facts and not fallacies.
By the way you did not answer the points/questions I raised about what the directors can do and get away with it because the Insurance companies will pick up the tab (Paid by the shareholders too mind you) and then ride into the sunset with the saddles full of gold while the shareholders have been left empty handed and, for some of them, with big tears in their eyes if not left to live on baked beans and toast for the rest of their lives.
And while you are at it T4ume, did you look at what happened with MPO and it's directors after doing what they did.??
Was that Criminal.?? I don't know but you can tell me and all of us.
Does this reminds you of something.??
And the proofs are.??
Besides T4ume, was it the Directors that was held accountable and paid for anything or was it your and the other shareholders money.
Did this director (if he was one) stopped from entering another BOD's and made to pay for, or did he simply come up elsewhere like the mushrooms do after a small shower of rain.??
PLEASE ANSWER THIS QUESTION MATE.
Sad state of affairs mate but when we have politicians the calibre we have, and some of them with possibly some vested interests and/or even having their own $2 shelf company to allow them to screw or abuse the system, what hope have we got.??
What we do need badly in Australia is the likes of what has been done in the USA where the SEC has now been given the funds and the powers needed to do what they are doing but, MOST IMOPRTANTLY IT HAS ONLY HAPPENED AFTER THE FAMOUS MADOFF AFFAIR BLEW THE WHOLE THING OPEN AND WHERE MILLIONS OF PEOPLE HAVE BEEN BLED DRY AND SCREWED WITHOUT THE USE OF ANY SOOTHING VASELINE.
What have we got in Australia now.???
Just look at what happened with IOOF and you will soon realise that we are on an iceberg course.
I rest my case.
""#They are likely organizing it right now and once again it will be only to their benefit as they are trying to have the company stolen away from its shareholders...##""
Could it be the reason that they have given/awarded themselves all of those millions and millions of options.??
You tell me.
Ok Buddy....let me get a bit into your questions.
Yes the scumbag directors get away with it way too much. Seen them investigated by ASIC with reams of evidence but no charges. I pretty much know why.
Since then (as a director) I just did it myself ie removed the scumbag directors via the boardroom with evidence and sometimes lawyers present at meetings or just by litigation and watch them resign usually before the court date....or as a (non director) by becoming the largest shareholder or a major holder and rounding up other major shareholder support and convincing them to fix the problem by calling shareholder meeting to replace the bastar’s and again they usually resign before the meeting to save embarrassment. It always works.
About the Insurance companies picking up the tab...it is not the case if the director is found negligent or dishonest.....It’s in the Insurance contract and they pay out of their own pockets.
If you want to make it happen you got to do it yourself. The Govt agencies set up to look after shareholders don’t have the highest caliber people working for them and underfunded and don’t like to lose fights for the sake of their reputations and usually only go after convictions that are so obvious that everyone else in Australia can see it before they do and you can win the case simply by putting your hand up.
The other way is to call the agency out in the media when you have the public interested in a fight that’s going on by saying eg the ASIC are “too scared” to go after these guys. Then you watch the ASIC quickly get involved....it sucks but is the way it works.
Yes they got all those options recently on the back of a BS report on Range so they can initiate a takeover for the real assets that the TO company wants ie Amadeus. Then the directors have their incentive because they have their options to cash in on during the TO but it’s not unfortunately the incentive to act in the best interests of the shareholders.
they must be reading your posts.
Summary: Annual Report to shareholders
Price Sensitive: No
good post from other site;
For what's it's worth, here is my review of relatively new info gleaned from this report after a quick read thru;
- Leon's CEO Letter - concise wrap up and look to the future (pp.3)
- 2HFY19 Financials in the black for the first time ever (pp.5) (Knew that before but still pleasing)
- New exploration strategy and personnel (again, we found this out in the past few months but still good)
- GRR court issues finalized at long last (pp.23) Hopefully it didn't cost much as the $1.3M described in Item 17(d) on pp. 68
- Still waiting on a decent Chairman
- "At the Company’s 2018 Annual General Meeting, 71% of the votes cast were against the adoption of the Remuneration Report." (pp.29) Central’s solution, increase total remuneration for Key Management Personnel (KMP) by 25% from 2.57M to $3.21M (pp.35). Wow, take that shareholders! Oh, and paying your lead lawyer $625k (up $111k on last year) is far too much for the size of this company.
- The following sentence in the Chairman's Letter: "At Central we recognize that we don’t have all the answers to solve the Global Climate Change challenge." Perhaps we should sail Greta across to help us Wrix?
Okay T4ume, I agree with some part of your post but I totally disagree with others.
To begin with you said that these directors were forced to resign...............Big deal..........why making them resign and not sacking them for their wrongdoings.??
At least if you sack them, they will have to include it in their CVI and that would make it hard for them to get into another board and do what they did before.
If you know that much why don't you tell us all........I will wait but please don't make me wait for too long.
As for Insurance companies not paying for their wrongdoings, well mate look at it properly and look at it in full depth before saying what you did. When you will come up with some of those directors having been forced to fork out and pay for this, let me know. But once again don't make me wait for too long as I don't like hanging out indefinitely.
And while you are at it, did you do what I said to do before and go and look at what is happening to MPO and as to why, even after doing what they did, the Coy is making it clear that they are going against their directors insurance and not the Directors.
""((Didn’t get what you were asking in this question?))""
I will tell/ask you the same thing.
""#Did this director (if he was one) stopped from entering another BOD's and made to pay for, or did he simply come up elsewhere like the mushrooms do after a small shower of rain.??#""
With that I mean...........................The Director you made a mention to, did he entered another Boardroom and sit on another one of those comfy leather chairs.!!!!
In the case of Mr. No Comment, after what he managed to do over the many years he was sitting in Boardrooms, and at times made to walk, did that stopped him to enter another Boardroom or not.?
It appears to me that when he was made to walk, he quickly came up elsewhere just mushroom do after a short shower of rain .
But................................when they are sacked, well mate that makes it a totally different story does it not.??
Look around mate.