No to Delist?, page-21

My complaint went something along the lines of:

The company called a suspension of trading and announced a share consolidation ration of 1/35 (SP is currently 1c, so effectively a consolidated price of 35c), yet in the same announcement the directors are issuing themselves performance shares at 22c and also announced a capital raising to private insto investors at 20c.

They are effectively ripping off existing shareholders and giving themselves and insto's half price shares and have suspended trading so that shareholders cannot trade off their shares.

This is criminal conduct in my book. Directors and insto's should not be receiving shares at half the price shareholders are.