re: Ann: 12.03.20 Edison Investment Research ..."Rc getting the chance to purchase up to a combined 12% of the co at different staged tranches...
Cp getting complete control of the company for his 5% share holding to date...."
Goro5,
RC, if allowed as they have planned, is getting control of the company with no shares and no money in it anyway.
CP has paid for his shares, and I can't see Palmer gaining full control of the comapny with less than 5% of the total shares on issue while the rest of us still own the remaning 95% of them. While of course I can easily see RC getting full control of our destiny with 12% of it. Anything above 9.999% of a company it means having a blocking stake in anyone's language.
One more thing that I would like to throw around for discusson is as to why the Askin Board didn't allow for any provisons to be put in place regarding the creation of a protection clause against the possibility of a takeover, and put it to a shareholder's vote to be either ratified or refused.
There are too many unanswered question there if you ask me.
CTP Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
