Ann: ECS to execute expansion plans following $4m Placement., page-2

This absolutely stinks.

At least we can be relatively certain that it’s now in Bell Potters best interest to get this pumping above 3.3c in 24m so that they can cash in from the hard work put in to run the offer… A nice little easy access to 20mil shares.

Such a disappointment that ECS management gave into Bell Potter. One could only assume that they approached them to initiate this, and, it’s certainly going to bring shareholder returns. It’s a Pat on the back with a slap in the face. Money and influence clearly talks, it’s just cheap and easy to do what they’ve done in this manner.

I am still not remotely buying into the expansion plans being dissimilar to plans already in place and budgeted for 6 months ago. “The timing is right”… I have no doubt we could’ve self-funded these initiatives, or have raised less that 4m, or have raised at a premium or have increased the facility or have undertaken a review of capex to streamline upgrades. 16.5% of total SOI added to the supply, reminds me of the inflation you see when a government prints money for their own benefit. Except ECS isn’t in a position to have to issue it…

I’ll continue holding for now, but this sets a precedent from the board, that your commitment and long positions mean nothing. You’re just another cog in the wheel turned by the external forces they apply to you. And if they decide to cut someone else in on the rewards, you’ll just have to suck it up and move on with it. Nothing we can do except home that those who picked up cheap shares don’t blatantly start manipulating the market.