"Issue of Shares in satisfaction of corporate advisory and business development activity fees
• Issue of 75,000,000 Shares based on the last traded Share price at 30 May 2016 of $0.054"
Are you serious ? Which company pays over $4m to corporate advisor. Seems really dodgy. Such fees should be decided before RTO as fixed dollers ($500k-$1m) and should be paid in shares by considering VWAP. Here they handed over shares worth over $4m. For what ???
Share holders, ASIC and ASX should really question the board.
Was any share holders aware of the fees of $4m before or after RTO ? Was it in any prospectus ?
TV2 Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
