....and in comes the cheerleader right on cue with the distractor - partly paid shares. My information is that the Coy do NOT need an EGM to rectify the situation, rather it's a stroke of the administrative pen to follow the policy in force at the time when the pp shares expired. They do however need an EGM and a shareholder vote to roll-over the pp shares. And with their own shares and those of the cheer-squad voting to roll-over the pp shares rather than expire them, it's a given that will happen.
An EGM will rectify the situation alright but in whose favour? On planet APG this is an OK move because they've been trying really, really hard to get the plant up, as usual confusing achievement with activity. And when you miss a couple of self-imposed dead-lines you just don't set yourself another dead-line and that's OK with some shareholders. Because....
exiting stage left shaking head Lekki
APG Price at posting:
2.8¢ Sentiment: None Disclosure: Held
