Australia's largest stock trading and investment forum Australia's #1 stock forum

BIG

0.00%

$2.22 big un limited

Morningstar Fair Value $3.63, page-60

First 60 Last

Share
Profile

Follow
cripptanite

148 Posts.

55

19/02/18

10:06

Post #: 31149886
Share

Originally posted by Dezy ↑

Big Un Limited (ASX:BIG, or ‘the Company’) herewith provides an update to the market. As
the Company continues to grow it remains committed to prioritising best practice corporate
governance together with full transparency and disclosure to its shareholders.
Mr Massie confirms that he has disclosed his interests in the Company. Further, Mr Massie
has confirmed that Gajah Investments Pty Ltd is not a
related party to Mr Massie, is not controlled by Mr Massie and Mr Massie does not have any
beneficial interest in BIG shares held by it. Further, Mr Massie transferred ownership, control
and beneficial entitlement in Coddington Nominees Pty Ltd Account> to Gajah Investments Pty Ltd prior to becoming a director of the company. Further,
the company secretary and share registry were notified of the ownership changes prior to Mr
Massie becoming a director. Therefore, Mr Massie has not controlled these accounts since
becoming a director and does not have any beneficial interest in shares held by them.
FC Capital and Finstro
The board confirm the purchase of a total of 3,030,303 BIG shares by FC Capital was
negotiated in November 2016 at a premium price of $0.20 when the Company’s share price
was $0.16. The Company’s directors remain confident that the purchase of and payment for
stock made by FC Capital remains commercial, at arm’s length and satisfies corporate
governance requirements. These are the only shares issued to FC Capital, and no further
securities will be issued pursuant to this agreement. Financing arrangements with FC Capital
remain in place for BIG customers.
The Company has and continues to use the Finstro financing arrangement to help accelerate
its market share growth. However, the company is not dependent on the arrangement for
achieving future growth on a sustainable basis.
Further information about the Finstro arrangements will be provided in the investor roadshows
taking place this coming week.
Share Issues
In relation to the Company’s historical issuing of shares for services, Mr Hugh Massie stated,
“The issue of script in return for services has been carefully considered and taken to ensure
the best outcome for all shareholders. When BIG embarked on its growth strategy post listing,
the strategy of the board was to use script as a method of payment for strategic suppliers.
Examples include technology suppliers, strategic and corporate advisors. It is the view of the
board that this strategy has bought better alignment with BIG in the long term.”
Corporate Governance
The board has been reviewing candidates to be appointed as non-executive directors and will
make further announcements on this in the future.

Expand

That's last week's announcement from the 12th

BIG Price at posting: $2.22 Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

RNX

Renegade uncovers large IOCG breccia system at QLD's Mongoose Deeps

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

IBG

Ironbark acquires two Mt Isa projects, notes 2,977 ppm copper at surface

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

AHK

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

There are more pages in this discussion • 60 more messages in this thread...

First 60 Last

Add BIG (ASX) to my watchlist

Morningstar Fair Value $3.63, page-60

Top Stories

Renegade uncovers large IOCG breccia system at QLD's Mongoose Deeps

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Ironbark acquires two Mt Isa projects, notes 2,977 ppm copper at surface

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

Featured News