Finally Positivity, page-5

I would imagine with James holding % nearly halved and the folks putting up the capital , there would be little choice for the existing board.
Currently he is the third largest share holder. With a cap raising of the magnitude I suggest he would slip out of the board.
James would also have to negotiate his interest free loan.( Mind you his shares would be worth over AU$7.5 million)
From last annual report:-

During the year ended 31 December 2010 an interest free loan was provided to a Director (J.A. Cruickshank: USD 600,000),
repayable on demand if the Director ceases employment with Antares or ceases to be located in Dallas, Texas. The Board considers
the benefit reasonable remuneration within the meaning of Section 211 of the Corporations Act. The loan remains outstanding as at
31 December 2014 (USD 600,000; A$731,528) (2013: USD600,000; A$670,540). The benefit to the Director of having an interest
free loan was A$23,842 for the 2104 year.

Again stuff to mull over folks,

I imagine major share holders and us ordinary share holders are "over" the current business model of buying leases building a saleable proposition with minimum outlay and prove up.
Relying on borrowed money , but never really producing much, and hopeing the surrounding drilling will sell the leases.
All with very handsome wages to boot.
Then repeating the same model with no gain to share holders, share value.
It is time to change.
James has had his innings, share holders are entitled to a return on/of capital.


Cheers IFINO
​