Lind will be the only beneficiary of this and it will enable them to keep converting and selling and the price will end at where it started at .2 cents. As it is an EGM, 75% of the votes will be needed to get the go ahead and surely Lind will be excluded from voting.
Probably hoping that doing it at Christmas means no one will vote.
Is it common for a shareholder to request such a motion?
Will Lind be excluded from voting?
Will the company announce who the shareholder is?
Did the company realise this was going to happen and encourage the new large shareholder to come on board to stop this?
So many questions...does anyone have any ideas?
Ann: General Meeting for Share Consolidation, page-30
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