2009 agm, page-11

One more thing:

In 2007 the company choosed to do spp that is based on shareholder and not on how many shares each one has. Each shareholder pay 5000$ regardless of how many shares he has.
I know this scheme is used by many companies, but let me explain myself:

1- I had 20,000 shares of cto shares and my total investment is about 10,000$ (sp was around 40 cents). A director who has 10% of the company (who has shares worth millions of $) also send 5000$ spp....very funny both of us pay the same amount of 5000$....both of us we made the same contribution to the company....

You would say: ok..this is fair since the director dilute his holding and he will own 5% or 7% after the spp instead of 10%....

I say: The director may find a way to regain his holding by awarding himself options or buying shares with his 300,000$ salary per year.....

It does not matter how u look at this....it smells very ugly...we the regular shareholders are in no winning position...I feel that we the ordinary people play a pocker game against the directors/managment....we forgot the managment can see our cards, switch our cards and... change the rules...anytime, anywhere they want...

And who is gonna protect us?...ASX.....no, I was joking....Let us face the simple fact...no one forced us to play this stupid game...

By the way, if someone fooled me once, shame on him...if he fooled me twice, shame on me! and how many times cto fooled us?

I am so much angry about these rich bluffers. They might
cost you a fortune!
Amer.