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the_contrarian

4,531 Posts.

297

19/12/16

13:33

Post #: 21435053
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Originally posted by R08 ↑

I am not sure if the point being made by Nytryda is being missed here...recent case aside.

As many of u have agreed - Tom Young is communications adviser for TV2

He is also MD of ECP; which as publicly announced were issued 75m FREE shares on 31/5 when SP rose from the 4c range to 7.2c. Tom himself even signed off on the announcement from TV2 disclosing ECP as the recipient. There was a pump.

So that was 75m dilution to company register which cost the recipients $0. SP spiked and has been crunched since to today's 1.4c. There's the dump.

Shareholders suffer hugely whilst ECP, even if they were to have cashed out the 75m at an average of 6c - pocketed $4.5m. I want their job ! In light of where the SP is today and the huge drop off in value since issue end of May - I don't think anyone could muster a genuine argument in convincing the market that ECP still hold 1 of those 75m shares.

That's the point being made. Any SH that is happy with this scenario OR doesn't see this possibility I feel very, very sorry for.

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Those placement shares should have been escrowed. I got caught up in all that too but luckily my avg. buy in price was around 3.5c at the time.

TV2 Price at posting: 1.4¢ Sentiment: None Disclosure: Not Held
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