questionh for kiwi & all non holders, page-45

Kiwi, that's my reading as well. BN (Blue Nightingale) were issued with FREE shares amounting to 30% of Nkwe SA for what? To simply comply with BEE requirements? Keep in mind that for BN to end with 30% they must have been issued almost 50% of the starting number of shares in Nkwe SA.

Another very generous deal on the part of our management, IMO. Funny how their cronies always seem to benefit from our generosity.

Then Genorah (another BEE entity) was issued with the lion's share of Nkwe Ltd's shares in exchange for the projects themselves. Apparently same directors appear to sit on both boards (and own large shareholdings) in both Genorah and BN.

Isn't that double-dipping from our pockets?

The plot thickens...