Thanks @scherobi, agreed, it lacks specifics and is open to interpretation although i would question any suggestion that it was voluntary, given:
1. the company and Norman had "reached agreement" in consideration of the the non-Careline associated Board members deciding that it was in the best interests of the Company to waive the requirement for Careline / Dr Norman Li to complete the final tranche.
2. Dr Norman Li / Careline "will escrow all of their shares" for 12 months as a sign of their commitment to growing the company and expanding Asian sales for the company’s products. Dr Norman Li has expressed to the Board that he and Careline are committed for the long term.
3. Dr Norman Li / Careline will transfer any shares not directly owned and controlled by Dr Norman Li or Careline to the ultimate beneficial owners. These are mainly co-investors and distribution groups that are assisting with Careline’s FOD distribution execution. The shares are being separated from Dr Norman Li / Careline’s holding as "Dr Norman Li / Careline will be escrowing their FOD shares"
The document is void of the word, "voluntary" and so the question begs.... Is it a prerequisite for the purpose of absolute definition to state or apply the use of the word voluntary, or does the asx consider, (will escrow all of their shares & will be escrowing their FOD shares), as a sufficient language to include the word voluntary?
History suggests is what comes to mind.
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Ann: Change of Director's Interest Notice, page-14
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