Definitely not tenable for this board to stay on managing DLC or the new MOAB minerals after they have acquired Calvista for themselves.
This is the second time Malcolm has acquired a business from his publicly listed company floated on the ASX.
First was Adultshop which he gifted to himself for 1.5m from shareholders and changed the name of the asx company to Delecta.
Now Calvista which he has again gifted to himself for pretty much the same amount as Adultshop.
Each time, he privatises the main business of the asx company to himself, before changing the asx companies name.
Adultshop -> Delecta -> Moab minerals
Malcolm acquires Adultshop -> Malcolm acquires Calvista -> ?
If for some unknown reasons anything of value is ever found at the REX uranium project or the new prospecting field in WA, what's to stop MDay from privatising those projects to himself and changing the name of the listed company once again?
Adultshop -> Delecta -> Moab minerals -> New name
Malcolm acquires Adultshop -> Malcolm acquires Calvista -> Malcolm acquires REX -> ?
This is a rinse and repeat formula Malcolm use's to get shareholders of the same, one asx company to fund new business ventures before gifting the business ventures to himself if they turn out successful.
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Ann: Addendum to the Notice of General Meeting / Proxy Form, page-18
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