Given all of the Ailakis-controlled vehicles that owned large amounts of RDS at the time of the IPO that were not disclosed to ASIC and ASX contrary to the Corporations Act (Section ?) it seemed logical to do a little investigating of RDS’s other activities at this time.
One item of interest is the transaction over the acquisition of E69/1386 – the Red Rock tenement, which was held at the time by Broadlake Holdings Pty Ltd.
At the time of the transaction, Broadlake’s sole director was a Martin Bolanca. Mr Bolanca is another very long-time friend of the Ailakis brothers.
According to the material contracts section of the RDS prospectus, the total consideration for this tenement was $280,000. One assumes it was settled from funds generated from the IPO, ie shareholders money.
Additional Related Party Transaction
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Mkt cap ! $4.627M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.5¢ | $2.52K | 504.0K |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 30375250 | 0.4¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 10374266 | 7 |
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