Ann: Letter to Shareholders, Notice of AGM & Proxy Form, page-3

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Bomber78

12,143 Posts.

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20/10/24

16:24

Post #: 76209702
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Originally posted by IndexInvestor ↑

If you agree with me that Chris has used his insider position to his own advantage, this meeting is where you can express your opinion.

I welcome Chis becoming a holder, but not in this way.

My view is that if Chris had wanted to buy shares, he could and should have done so on market like anyone else. Instead he has been offered the same generous terms as the participants in the placement, i.e. free one-year and two-year options with 7c exercise price. The total value of these options when awarded was about 2.22c per 7c share subscribed for (using 60% volatility). More if using a higher volatility. This offer wasn't available to any other holders, irrespective of how long they had held. Chris's holding before this offer was zero.

AFAIK Chris played no role in brokering the placement. AFAIK he merely decided that he had some special entitlement to participate in it. Happy to be corrected if I'm mistaken.

And the Chair agreed that Chris was somehow special.
Happy to be corrected if I'm mistaken.

Chris has effectively received a huge sign-on bonus.
AFAIK Chris has done absolutely nothing to earn any sign-on bonus, let alone a huge one.

I'll be voting accordingly.
I encourage any thinking person to do the same.

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Some fair points - at least it went to sticky hands rather than retail who’d sell for a 1c pip

Last edited by Bomber78: 20/10/24

ILA Price at posting: 16.5¢ Sentiment: None Disclosure: Held
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Last 13.5¢		Change 0.000(0.00%)		Mkt cap ! $31.87M

Open	High	Low	Value	Volume
13.5¢	13.5¢	13.5¢	$2.313K	17.13K

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No.	Vol.	Price($)
8	392891	13.0¢

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Price($)	Vol.	No.
13.5¢	884	1

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No.	Vol.	Price($)
8	392891	0.130
4	32884	0.125
4	115529	0.120
3	85000	0.110
2	70000	0.105

Price($)	Vol.	No.
0.135	884	1
0.140	884	1
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