Genuine Questions for the NASFUND Board
Nakovis Why did Nasfund invest in APNG when the numbers did not stack up with K25 million paid out to Mr Wild Senior in Goodwill, and K90 million going to Wild family to retire debt. What were they buying, when they were only buying 40% of company and not even control or management? Why did Nasfund invest knowing there was going to be no cash to run the company or carry out promised expansion program? How was it financially justified and accommodated in the Prospectus how the 2 promised new Boeing 737 s were to be acquired and their operational aspects on the promised new Australian and Asian routes were to be effected? If the Wild family were taking the cash out, why didn't Nasfund ask the hard questions as to where the funding was going to come from? What has the Board of Nasfund done to discipline management staff who invested K23 million in a company that lost 50% of share value on the first week of listing, and has broken its promises of 2 new 737s and new Australian and A