Ann: PKS Director participation in recent placement, page-4

Wholly agree.

Of the $13m being raised ($12m via Placement, $1m via SPP), a full $2.2m will be from stock placed directly to two non-executive directors, and $1.95m will be placement stock going to two investment entities associated with two other directors (including $1.75m to the fund represented by PKS's Chair).

So that's a ~$4.2m allocation to just those four directors, directly or indirectly.
By contrast, a mere 1m is allotted to company's 1,370-odd shareholders in the form of the SPP.

This fails the test of equitable treatment of all shareholders.

Accordingly, besides also voting against the issue of stock to the two NED's (the stock has already been issued to the two investment entities, something that I believe should also have been subject to shareholder approval), I will be making written representation to the Chairman of the Board along those lines well ahead of the EGM.

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