UNS 0.00% 0.5¢ unilife corporation

3 Generous Men = Discovery ?

  1. 92 Posts.
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    I have witnessed my close relative suffer immense anxiety/stress/pain due to holding this stock long term. She has believed all the rhetoric from the company due to her naivety and it has cost her thousands. I decided to go through the company announcement archives and have discovered several unusual findings. This stands out the most. From
    http://www.asx.com.au/asxpdf/20121017/pdf/429flfcsxrzynz.pdf
    Page 43
       `Pursuant to a subsequent notification from the Founding Stockholders to us dated as of October 27, 2009,
       three of the four Founding Stockholders ( Alan D. Shortall, Joseph Kaal and Craig Thorley ) each relinquished, for
       no consideration, all of the shares he would have received pursuant to the Deed of Settlement and Release and
       directed us to issue all his founder shares to the fourth Founding Stockholder, Roger Williamson, in recognition
       of the fact that Mr Williamson provided seed capital in connection with the founding of our company. During
       the year ended June 30, 2009, we met both of the net income requirements and therefore, in November 2009, we
       issued 3,333,333 shares of common stock to Mr Williamson, which were in full satisfaction of our obligation to all
       to all of the Foundation Stockholders.`
    *So these three gave away the equivalent of 10,000,000 CDI`s to someone who had been well compensated in 2002 for his seed capital injection, 19,600,000 shares for $800,000 or  4 cents per share. `http://www.asx.com.au/asxpdf/20021218/pdf/00336921.pdf`
    *Shares in UNS hit A$1.68 in April 2010 but lets say these shares realised the equivalent of A$1.50 which would have netted each individual A$15,000,000.
    * It is possible that Roger Williamson realised A$60,000,000 from this generous act, enough to take a large stake in a Caymon Isl. fund ??
    Questions for those interested ( long term holders who have endured the pain )
    1. why was this generous act not released until October 17, 2012, nearly 3 years after the act.
    2. was this act done to avoid a substantial capital gains tax. ?
    3. was the money used to invest in a Caymen Isl. type fund ready to pounce on  UNS when the time was right?
    4. was UNS guided deliberately into such a position so the Caymen Isl. fund could act.?
    5. Why would any individual give away a potential $15,000,000 for the stated reason? Ask yourself that one.
    There are many more questions concerning this 2009 transaction and there are several other unusual findings regarding the timing of certain announcements, generally (`Change in Substantial Holdings ) notices, that dont add up.
    In relation to Question 2. I have enquired at the Aust. Tax Office and they are interested in this particular point. The Tax Officer verbally compared it to an investor donating his investment property to a friend/family member and that in this case Capital Gains tax has to be paid. I am submitting a letter to them C/O `The Office of Non Compliance`. The officer told me the more notifications sent to them the better chance an investigation will occur. My actions are done in good faith due to my sense of what is right so if everything is above board then no harm done.  If you have suffered like my family relative then you may want to send the ATO  a letter.
 
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