I think Gary Morgan owns or controls at least 64% of the shares in Haoma. With a 50/50 ownership of Pirra Lithium, upon a spin out into a separately listed company, Gary Morgan would own/control at least 32% of Pirra Lithium shares, which would give him effective control of the company. I think Calidus would not like this to eventuate.
Perhaps by backing some 100% Calidus owned tenements into Pirra Lithium and renegotiating the Pirra Shareholding to maybe 25% Haoma 75% Calidus, this would reduce Gary Morgan to at least 16% ownership/control of Pirra Lithium shares which would not give him effective control.
Any thoughts on this? or do you think my Maths is correct on this?
CAI Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
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