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Hi Ron, I believe they can only issue a maximum of 10% of...

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TJ1988

2,820 Posts.

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28/11/19

15:58

Post #: 41689273
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Originally posted by ronsterm ↑

Hi all long suffering APG shareholders
Many thanks to the Austpac Progress Association for their great work.

I was involved in a somewhat similar scenario 10 or so years ago with JRV. A group of us volunteers obtained the shareholder list and between us rang nearly all shareholders to state our case for a change of MD due to a spill motion(memory is a bit fuzzy about the details).
The votes were to be counted by the shareholding registry company. The MD had access to the tally as the votes came in(totally inapproprately if not illegally). When he saw that he would lose the motion, he simply issued enough shares to a friend who then made it to 50%+1 to defeat the challenge.
That is how the game can be played.

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Hi Ron, I believe they can only issue a maximum of 10% of existing shares, I also believe they have used most if not all of this already so I don’t think they will be issuing any shares as they have already done so through this period.

APG Price at posting: 0.1¢ Sentiment: Hold Disclosure: Held
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