The principal investment has been taken up by the Hayaat Group, a private investment company headquartered in Abu Dhabi who subscribed for $3.3 million. Following the Placement, the Hayaat Group will own 9.4% of the Company and will nominate one director to join the Swala Board. The remaining $1.1 million was subscribed to by Dr. Reginald Mengi, a private investor, who will own 3.3% of the Company following the Placement.
So Hayaat have a Director and Mengi is not a Director but Mengi IS a 3.3% owner (by gift).
So it is hardly a 'conspiracy theory' to talk about Mengi's new business announcement. It is a relevant and genuine point for discussion.
But as usual we don't get much of that on here.
We get sooking and ridicule when anyone raises anything even vaguely potentially worrying and then tons of back slapping when someone comes up with some ridiculous ramp.
SWE Price at posting:
25.5¢ Sentiment: LT Buy Disclosure: Held
