There is absolutely no evidence whatsoever, that Clive Palmer has even the slightest interest in CTP. That is just wishful thinking and in the absence of anything even remotely supporting that hypothesis, I call BS on that.
There is also nothing to indicate that this has anything to do with the TSX listing, and even if it did, why would that require a trading halt here. Normally you advertise new listings, so we would know if that was it.
While this could be just a move to block the accumulation by unknown parties, I think bush boi is on the money. IMHO this is a move by the board to thwart the move against them by the rebel shareholders. The board knows that there is a rebellion afoot and I suspect they were being cute when they said there had been no requisition received. Whether it was an informal approach or non complying in some way, they know the move is on and who is behind it. So the rebels have 5% minimum to force the EGM, they issue 15% to trump them.
The rebels 5% is also no longer 5% due to the dilution caused by by the extra 187 MILLION or so shares issued to some crony. Who knows what other sweetheart deal they are doing to buy this support.
By bringing in an investor with a 15% issue of shares whose votes they can count on, they will make it infinitely harder for any challenge to succeed. I think only 5% of SH bothered to vote at the AGM so the reality is most SH are fairly disengaged. If that 5% were all to vote against the board and assume the rebels have 5% of SH on board (which they must have to force the EGM), the rebel SH still have to find at least another 6% of SH votes to support them, assuming the only votes the board could count on is the puppet they've just brought in.
Another way to look at it, if you total the top 20 shareholders, they only hold a total of 14.21% between them, so even the top 20 SH combined, couldn't get rid of the board on their own.
It's not like they have an urgent need for more cash, they haven't drilled squat since the last CR. Nope, this is about ensuring the current board's survival.
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