Ann: Acquisition of Silverlink and Capital Raising, page-150

It's what happens when 120 million shares are placed into loose hands by a broker with an all care, no responsibility brief.

No matter.
It's to be expected, because that's simply what brokers do.

But that Alcidion management signed off the deal on the existing terms reflects capital market naivety on the part of the board. That naivety has come at a cost to shareholders.

For a stock that normally trades only a few million shares a day, if you issue tens of millions of shares to strangers at a price well below the prevailing share price at the time of issue, blind Fred would know that the stock price will quickly tend to the level of the issue price.

The job of management is not only to secure new contracts, but - more importantly - to prudently steward the capital of the business and to protect shareholder value.

That has clearly not happened.

I think that, in the interests of good governance, it is incumbent on shareholders who harbour reservations about what has transpired over the past week, to register protest to the company.

Accordingly, on behalf of my family entities whose capital I manage, I have written to the Chair of the Alcidion Board to express my dismay.

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