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CityView investors push for changes

Perth-based CityView Corporation is facing a shareholder revolt with a group using the internet to express their concern over chief executive Mark Smyth and his management of the company.

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benowa
the most disappointing aspect of what has transpired with cvi is that shareholders lost vast amounts of wealth due to placement taker Global dumping every share they had taken up. shareholders were told by our ceo that the 75million shares that Global paid 22cents for in a placement were lent out to clients of global who had shorted them. this was completely untrue. Global dumped every single share into the market sending the price plummeting. they did this with all the placements they took. it is obvious now after the event what their motive was, to get the sp as low as possible then take ownership of the company thru a heavily discounted rights issue, thru a different vehicle named pinnacle. the directors of global and pinnacle are one and the same

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