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PACIFIC CURRENT GROUP LIMITED (PAC) SHAREHOLDERS ARE URGED TO VOTE AGAINST ALL RESOLUTIONS AT THE COMPANY'S 30 NOVEMBER SHAREHOLDERS MEETING

Announcement posted by ASI Mutual 13 Nov 2018

PACIFIC CURRENT GROUP SHAREHOLDER ASI MUTUAL, ACCUSES THE COMPANY AS BEING, BESET BY SELF INDULGENCE, FINANCIAL INEPTITUDE, WEAK LEADERSHIP AND ALL EMBRACING OF STRATEGIC FAILURE


PACIFIC CURRENT GROUP LIMITED (ASX:PAC)

SHAREHOLDERS ARE STRONGLY URGED

TO VOTE AGAINST

THE COMPANY’S REMUNERATION REPORT

AT THE FORTHCOMING

SHAREHOLDERS MEETING 

 

ASI MUTUAL A KEY PAC SHAREHOLDER

URGES SHAREHOLDERS

TO VOTE AGAINST

SELF INDULGENCE 

AT THE SHAREHOLDERS MEETING

 

STAND UP AND MAKE YOUR VOTES

COUNT AS A MINORITY SHAREHOLDER

 

VOTE AGAINST

POOR GOVERNANCE

AND OBSCENE UNACCOUNTABLE

DIRECTOR AND EXECUTIVE REMUNERATION

 

VOTE AGAINST  

WEAK AND INEFFECTIVE

BOARD LEADERSHIP

 

VOTE AGAINST

STRATEGIC FAILURE

AT THE

ANNUAL GENERAL MEETING

OF THE

SHAREHOLDERS COMPANY

TO BE HELD

AT 10:00am (AEDT) ON FRIDAY, 30 NOVEMBER 2018

AT THE OFFICE OF PIPER ALDERMAN 

LEVEL 23, 459 COLLINS STREET 

MELBOURNE AUSTRALIA 


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PAC’s long-term shareholder, ASI Mutual is continuing to pursue its demands for accountability over the failed Joint venture/merger with Northern Lights Capital Partners LLC, BNP Paribas Capital Partners LLC and their cohorts at Northern Lights Capital Group LLC. There may well be other shareholder protests, said ASI Mutual.  


ASI Mutual also notes from PAC’s 2018 annual report to shareholders, PAC was issued with an infringement notice from the Australian Securities & Investment Commission (‘ASIC’). “ASIC raised concerns with the non-consolidation of Aurora Trust (“Aurora”) in Pacific Current’s 30 June 2017 financial report”. ASIC also stated, it was “concerned that Aurora had not been consolidated from November 2014 to April 2017 when Pacific Current had rights to variable returns of Aurora and had the ability to use its power to affect the relevant activities and returns of Aurora”. Matters for which PAC’s board is collectively responsible.  


ASI Mutual urges all shareholders - to thoughtfully consider the contributions Company directors make or have made on their behalf and the quantum of value they bring to their table, when asked to employ or re-employ them. 

For further shareholder or media comment, please contact:

Michael de Tocqueville

CEO-Investment Director

ASI Mutual 

web: www.asimutual.com

email: mdet@asimutual.com

Mobile: Australia 0402 039 993 International +61402039993