Ann: Consolidation of Share Capital and Change of Name, page-15

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Nicster22

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20/12/24

14:22

Post #: 77140493
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Originally posted by ecneitap: ↑

so let me get this straight - the share price drops over 95% before being suspended and on the verge of going into administration - they then come up with a plan to dilute the shit out of the company via a capital raise at one tenth of a cent, and with excitement and optimism sell the new dream to shareholders who folk out their hard earned cash to participate which effectively keeps Shackleton employed. Sounds good , I mean at least it can't go lower than one tenth of a cent right - wrong ! In comes his brilliant idea to consolidate at 40:1 without adding in an announcement that most companies would do to keep the share price stable. Especially as preliminary drill results were promised before Xmas which clearly wont happen even though they haven't bothered to formally inform shareholders of this ! so the consolidation happens backed by silence and here we are dropping another 70% off the capital raise price - a nice thank you to existing shareholders who on trust participated and kept Shackleton in a job. So effectively the share price is now sitting at around one quarter of one tenth of a cent - or one fortieth of a cent. I have to say I would not have thought this would have even been possible for a 10 year old to do running a company - so take a bow Matt Shackleton - take a bow !!! E

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I think that about sums it up.
Lucky he’s not coaching a football team as he would have been sacked ages ago for such a dismal performance.
Time to change coach.

APC Price at posting: 1.3¢ Sentiment: None Disclosure: Held
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