Hi Bruce,
I could be wrong but the directors first responsibility is to the company, not the shareholders. So legal action probably will not work.
p.s the Chairman is a lawyer so I am pretty sure they have the legal aspect covered. Not saying I am 100% happy with directors being allowed to fund these notes and mentioned this to Toko at the last AGM. But happy where the company is at this point and how it is progressing.
Ann: Term Loan Repaid, page-29
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