At the EGM that the company will call to get the options approved, IMO there will be another resolution that will be put forward to be voted upon. And that is, that there will be also a resolution that will ask shareholders to vote in favour for the Company to be restored with the powers to issue another 15% of the total shares on issue without receiving prior shareholders approval. These shares can in fact be issued at the total Board discretion, and the Shareholders have no say at all in as to how, and to whom, they will be issued. Don't forget that!
If that was to happen, as you said will2rob, there will be an immediate TH following with another gazillion shares given away at a discounted price so that they will get/garner further support to continue to stay in that Board room.
Unfortunately for us though, those 130million shares that have just been issued/allocated, they will be allowed to vote in favour for that resolution.
The whole thing stink if you ask me. All the while our regulators are looking the other way and don't give a them about us retail investors getting shafted.
Please DYOR.
Cheers, Buddy134
CTP Price at posting:
50.0¢ Sentiment: LT Buy Disclosure: Held
