Ann: Notice of Extraordinary General Meeting/Prox, page-2

re: Ann: Notice of Extraordinary General Meet... So, they are going to issue 38,540,000 shares + attached oppies to raise $5mill+ to get the ball rolling...at an estimated 15c /share...(n0t less than 80% of the av price, which is 18c at present). That will lift the no. of shares on issue to 128,808,292 from the present 90,268,292.....
+ the attached oppies. Quite a bit of dilution.
I guess we need the dough, but I'm a bit peeved that existing shareholders werent asked to participate.......
Not a big issue, I guess, most of us being aware that with small companies (and some bigger ones) mates come before shareholders.

Now, they also wish to issue 5,000,000 shares + attached options to each of 5 directors......thus another 25,000,000 shares + attached oppies, bringing the total to 153,808,292
+ oppies.

Fair crack of the whip, guys, I think the latter is an insult. Sure all directors always put their hands up for more shares, but this is a bit cheeky......with production still maybe months away yet, I dont feel they have delivered anything to us yet.....beyond delays.
I will be voting against director's shares. Cheeky sods!
Edd definitely deserves his as he has been a one man band.
The others, a couple of whom I've never heard of, can go hang.......errrrr, maybe give Ken a few, lol.
Shoot me down guys, but that got up my nose.....
But I say again, Edd deserves his....

GZ