Hi
@Davy Boy .... "
Otp said the company men will participate in the excess placement."
I saw that when OTP posted it, basically, "so what".
The 'company men' had the right to apply like everyone else, yet between them failed to buy a single share in the right's issue.
Now, it looks like they are only going to participate if 'others' fill the gap, giving them the option of opting out if 'others' don't take up the rest of the raise.
Once 'others' have applied for 'most' of the remaining shares, which makes the cap raise a success, then why should the BOD have to right to apply for their 'share' when it is too late for other holders??
If they are fair dinkum, they should have applied for their rights, the same as everyone else.
Why wont they put in the maximum NOW, before certainty of 'others' taking up the issue?? Are they waiting in case the issue lapses and they can then get more shares later at a cheaper price for the same capital outlay?
There are zero excuses for not taking up their allocation and more if they wished, when everyone else had the opportunity..
So I'd like these questions or close to them asked of Scott....
Why didn't directors take up as much as they wanted during the rights issue cap raise?? Why the wait?? Are you lot (BOD) only going to put in your hard earned after it's 'safe' to do so knowing 'others' have taken up the rest of the issue??When did the BOD decide to not take up their entitlements? Was it after they saw the issue was not fully subscribed? Or did none of the directors have any intention of taking up the rights, yet expected shareholder to??There is no logical reason why the directors couldn't have taken up their rights at the time. Even insider information doesn't preclude them from taking up their rights. It might preclude them from taking up more than their rights, as in the shortfall, but not the rights themselves.
...
@JRIPodcastBTW Matt, this is the area that sorts out the good journalists from the chaff, asking the hard questions, then re-asking if the answer is an attempt of fobbing off the hard question...
