I’m a long term suffering shareholder … capital raise after capital raise and every $ wasted on higher salaries, new cars and long lunches !!!
The old Board were quite simply useless (in spite how that pumper guy kept pumping with the Q guy and the one liner Bobby , 2 of which have now realised this is a lemon)
Sadly, these new guys are off to a very bad start when the very first thing they do is to issue FREE 2c options to themselves and friends and relations
I also hold TEGO (and TEG) and is just amazing that they have ignored those shareholders by issuing FREE 2c options with a 3 year expiry date, whilst ignoring existing shareholders
At the very least they should have been 3.5c options … spitting in the face of existing shareholders is not a good look … ASIC is unlikely to be impressed
They may have oil and gas experience but what is really concerning is that these guys appear to have stuff all Public Company experience … that is evidenced by this ridiculous capital rause
where did the $10m go that was raised just a few months ago ?
this needs to be investigated, and I suspect that it will, because it certainly will NOT be forgotten by the current shareholders
TEG Price at posting:
1.3¢ Sentiment: Sell Disclosure: Held
(20min delay)