VRL 4.42% $4.02 village roadshow limited

asic to investigate ???

  1. 6,389 Posts.
    See article in Friday AFR:

    ASIC probes Village Dividends

    IMO the whole sad episode with VRL and the dividends was a ploy in order to drive the price of VRL common and Preference shares down in order for certain individuals to be able to buy control of the company at at a cheap price.

    Proof is the talk of Village doing a buyback of the prefs now that the price has crashed. This is despite the company saying that the reason to stop the dividends was to build up the balance sheet. I guess it is a lost cheaper to buy something at 69 cents rather than the $1.55 that the prefs were trading at before this fiasco began.

    Yet the company now has enough funds to contemplate a buyback?

    IMO something stinks big time at Village and it starts with the BOD...

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