Terrible news today, we could have raised this amount ourselves, and as a result, with around 550 Million shares in the Company it’s not hard to work out a rough amount of what you will receive.
As I still own shares in LNGL, I consider myself a ‘creditor’ so not sure why I and all the other ‘creditors’ weren’t involved in approving this transaction?!
I think it would be pertinent for all shareholders to contact ASIC immediately (before the target date this Friday 15/05/2020).
As Lilac showed, the Technology Rights were transferred to the US on 21/01/2020. This was done without shareholders being informed.
This seems to have been set-up very quickly. My own personal opinion is that it may have been pre-planned and I will be sharing my reasons for this opinion with ASIC.
Once again, I feel it would be extremely important for shareholders to inform ASIC that we were not notified when the transferring of technology rights took place. There is certainly a case for answering this lack of disclosure and openness in regard to shareholders.
