There is no doubt in my mind that the board are actually "good" people. However, IMO they have demonstrated a lack of "business" experience here.
They have definitely been "hood winked" (aka swindled) into a cap raising to align with the interests of foreign companies who do this day in/ day out ..there is no doubt in my mind that they are the predators in this relationship.
The directors could have opposed this action and fought for a better price. They could have easily opened the exit door to these companies who were simply baiting them. I bet they would have come running back.
What many people from these predatory companies don't understand is that it would have been in their interests to pay a premium too. As I pointed out earlier the word of mouth of a premium price would trump the greed due to further SP rises from the goodwill.
I think they were too eager to please certain important people with lots of money who wanted in instead of looking out for us shareholders which is what they are paid & legally obligated to do ...
VLA Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
