STOP WASTING SHAREHOLDERS' MONEYThe failure of Nordex board and management to deliver decent returns on shareholders equity
is a serious concern of myself. With ROE substandard in the last couple of years it is not a surprise that this stock is a dog. I have owned it for about five years, have received no dividends, and have a paper loss in the best stock market in years.
I have never voted my shares, and have seen change of majority of board two times (2010 and 2012). I consider 2102 takeover by the current board illegal as no information circular of "newcomers" was provided to shareholders prior to the shareholders AGM. Similarly, the private placement of 10 million shares subsequent to that was illegal as it resulted in buyers of this placement receiving control of the company without paying the takeover premium, and receiving approval from existing shareholders. If it happened in USA (where I live) I am sure there would be serious consequences for people responsible for this.
I note with interest that the company engaged Capital Ideas IR firm on the shareholders' dime. What for? To write news releases? Couldn't directors do that (presumabely they approve them all)? Or CEO? What Capital Ideas are doing for me? Absolutely nothing!!!!!!!!!
Mister Dean Stuart posted here, but fails to address many questions posted here, for example why the company did not use the rights issue rather than raising through private placement ?