Shareholders are being robbed of their company in these capital raises.
Having the capital raise at a price that no one would be prepared to subscribe at sees the opportunity for the major shareholder to take a tighter grasp on the direction of the company by virtue of dilution.
There is no indication whatsoever that this will be the last capital raise, is there? At the next one, Delphi's holding will be stronger, repeat, repeat again and eventually we small holders become very small holders and Delphi has the company bought very cheaply.
The Board of Directors should be obliged to point to what and when there will be profitability in the company and how they will achieve it. I thought it was Australian corporate law that Directors are required to aim for profits. The current Board seems content to drill forever and let Delphi take control so long as they get a nice earner out of it.
- Forums
- ASX - By Stock
- KIN
- Ann: Dispatch of Offer Document
Ann: Dispatch of Offer Document, page-4
-
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add KIN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online