CDU 0.00% 23.5¢ cudeco limited

Shareholders Move to Vote against Chinese Directors, page-34

  1. 46,599 Posts.
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    Oz I posted in another post the link from the ASXinsights website where they state they need the $$ from Rich Lead ( which they do ) and that they need to vote for Resolution 6 - But the shares have been issued and the money is already in the Bank -

    Resolution 6 is not asking shareholders to approve the placement to Rich Lead thats a done deal - the resolution is to ratify those shares thus allowing the company to go ahead and issue another 15% chunk of stock to anyone the board chooses at any price the board choose with out the need for a shareholder vote ( unlike the Focus sun issue that had to go to a vote )

    I would have thought they would be voting no given their stated position of no confidence in the board.
    Last edited by h00ts: 26/11/15
 
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