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clock Created with Sketch. 09/05/24
17:28
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Originally posted by bm3121:
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Have I got this wrong. Board of DGR & AJQ consists of a couple of directors from each company, in addition of the business partner, who is DGR's Chairman, of the then CEO of AJQ. Also, there is the same financial officer to boot for both companies. The DGR Board elects to give AJQ some $25 million dollars in unsecured loans when AJQ was known to them to be in significant financial difficulties, even after AJQ raised tens of millions from other capital raisings. All approved by majority votes at AGM/EGM, by no other than Directors (Mather etc.,) and their significant investor friends who own over 50% holdings. Small investors had no power to stop these sweetheart deals. AJQ goes belly up to the surprise of guess who (same incompetents). They call fraud, fraud and fraud, and we going to take you to court! Then when a back door deal was done to the total surprise of our expert Board members, DGR takes out an extremely expensive loan to make an offer for AJQ with that loan being charged at 12% interest p/a to be paid back in full in December this year. Don't forget the cost incurred in setting up that deal. Nearly a million dollars. The DGR offer is rejected and now DGR which has spent over $5 million of the loan must go through with the loan with no plans what to do with the rest of the loan (????) and out of the blue an independent finance property company says we will give you the money for 180 million options, which can be converted to fully paid shares at 3cp option (no time frame mentioned from memory for conversion) .......gaining nearly 20% equity in DGR in one simple swoop. DGR is a company which owns roughly 6% of a multi-billion-dollar Tier 1, Gold/Copper/Silver (sixth largest resource found this century) together with other assets. One of our learned posters has indicated that this new savour (finance company) is owned through family ties/interests of the same partner of DGR's Chairperson and is/was the CEO of AJQ. Fraud and inside trading are terms that springs to my mind with this deal. Remember the results of the recent EGM when just over 50% of voting shareholders were counted and guess who the majority of these cohorts were. Mather being paid over a quarter of million dollars. What a con. If SOLG is bought out every shareholder will have to divide their return, thus reducing, by another 18%. All thanks to our trusted BOD. But they say thank you for their salaries and bonuses.
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very strange circumstances https://www.whitecase.com/insight-alert/major-changes-australias-foreign-investment-review-regime-announced
Last edited by
lame :
09/05/24
