Ann: Update - Proposed issue of securities - ANP, page-19

Someone must have reported this because i have seen worse profanity written so have adjusted to exclude


Tells me, they don't want to answer the awkward questions around the CR, if it hasn't been succesfull, if the funds are forthcoming there is no reason why the CR couldn't be closed before the AGM
If it isn't then take it full entitlement, has not been taken up and the rights has fallen short

For all the so called superstars we are supposed to have on this board i just cannot believe how bad they Stuffed this up

So Gassy lets go through your post you say

imo… should have bypassed shareholders and given it to Sophs and Funds..
Anyway

WHY  should we have been excluded although they may have well have done the way this was set up

If this had been done the way i suggested
ie
1-10 on the 750mil SOI at the end date of the whole CR this would have been completely different IMHO

WHY

1 for starters it would have stopped the placement from selling down to get a cheap shot oppi because they would have been awarded their options on a pro rata basis at the closing date of the whole CR

2 The reward for the placement should have been sold on the basis that up until this time there was no stock available in quantity, and to be able to buy in numbers in the CR was to their advantage along with the 1- 10 free attaching oppi

3 Because the oppi would have been awarded @ the end date it would have encouraged buying on market up to that end date, so that one could increase ones exposure to the oppis in the = pro rata issue ie the more you hold the more you will get, encouraging the market to buy up and an increase in the sp  not a sell down as has happened

4  I for one would have taken this deal and taken up my full entitlement plus put my hand up for any short fall

5 By doing it the above  way you would have cut back the flippers @ market and a good proportion would have gone into keepers hands and held tight, instead they rewarded those that have basically destroyed our momentum

Gassy you then go on to say

By extending the Rights date until 2 days after the meeting tells me there is a Big announcement before the AGM giving small shareholders time to sell and buy back the rights and get the Free option exercise price 48c

How does it tell you something big is coming, so you are encouraging further selling by what you say, are we not trying to increase the SP, are we not trying to get these shares in Tight fists once more.

Then you say
From my understanding there was a Large seller..
Who has now left the building

So yet again we lose another large holder, i wonder why is it because this has been so poorly handled to say the least  ( i could have been a hell of a lot harsher but it would probably have led to being moderated )
I would like to have known the reasons for their sell down  

then the final kicker gassy

I think it’s unfair for people to think Bad of the Board

not knowing the Full story.. The Board has a job and they consider everything .. Gill Price ( We do everything the Right away)
Shit happens sometimes.. Beyond the Boards control..

Gassy please tell me what was done right about this, had this been done the right way IMHO we would not be sat where we are sitting right now, and this is not me telling you this, this is the market telling you this.

Of course we are going to get over this longer term this will move on, but one thing for sure this board are most certainly not doing the right thing by its shareholders from a market, marketing and ROI   perspective.

@Gan_Gans i think its a little late for alignment with shareholders LOL they should have thought about this in the first instance, i was rolling around trying not to puke when Diamond tried to sell this Raise in the webinars as shareholders in the rights issue were being given the same opportunity as the placement
( REALLY LOL )