At the very least, shareholders should vote NO to Resolution 2.
Even though that Res 2 will be passed, because the two big shareholder/directors own about 35% will vote for that resolution, at the least if everyone else votes against that resolution 2, it will send a message to the board.
There was no reason to exclude retail shareholders from the fund raising.
They could have done the Placement, and at same time done an SPP or Rights Issue.
Everyone could have benefited.
It is the retail shareholders who have provided the risk capital to get WGO to where it is now, yet the directors see fit to hand the short term gains to new investors, and a select few.
Why not allow exiting shareholders to participate in the deep, deep discounts offered? And not see their shareholding diluted??
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- Ann: Notice of Extraordinary General Meeting/Proxy Form
Ann: Notice of Extraordinary General Meeting/Proxy Form, page-8
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