Haasko, CTP has issued 92 million shares to the sophisticated...

Haasko,

CTP has issued 92 million shares to the sophisticated and Institutional investors prior to the Rights Issue to the shareholders. Is that correct.??

Now, according to my understanding of the law, and you should know that part very well too, a company can issue up to 15% of the total shares on issue via a placement to anyone without prior approval of the shareholders.

But, there is a big but here now...... 92 million shares are the equivalent of more than 15% of the total shares on issue at the time they were issued to those people, are they not.?? They will amount to 15% of the total shares on issue AFTER the rights issue has been completed, BUT NOT BEFORE!!!

As such and IMHO these shares will have to be approved by a resolution at some stage or another. Yet, we have never been told that that is the case. Once again it appears to me that the company is very very quite on things that they are doing and treating us like just good proverbial mushrooms. One would be forgiven to think that we should have been told, but we haven't. Perhaps someone in there do think that we are just a mob of idiots and fools which knows nothing about anything while just awaiting the orders coming from them to tell us to go jump, and we reply with "HOW HIGH".

In the meantime these people will have by now received those shares which are the equivalent of not less than 15% of the total shares on issue AFTER the rights issue has been completed and there is no way known that those 15% of the shares, plus the ones which will be allocated to the underwriter will ever be voted against anything that this BOD will decide to do with CTP in the future, let alone the ones which MB are now telling us that they are holding. How many percentage holdings in shares will that amount to now which will always be available to MB when they so desire.??

Am I right in saying so my dear old chap Hassko.??

Can you please clarify this issue for me.??

Have we now just been snookered into a corner and forcefully been played in the hand of the lion and/or been thrown straight into the lion's den.??

I wonder if ASIC and the ASX should be made aware of this. Or is it just another one of those big anomalies applicable to our Corporation ACT where the big end of town will always find a way out of anything and where they will always win while the poor shareholders will get constantly screwed without the use of any lubricants to soothe the agonizing pain.??

I am quiet sure that there could be a way out but, here is the big but, it will take a hell of a lot of money to fight it in Court, something which we haven't got, and when ASIC is always walking around with it's head turned around the back and looking backwards.

Once again, and while IMHO, I'd like to express and to extend my gratitude to the stirring mob called the ND team and their mouth piece which have helped greatly in creating this ludicrous if not laughable situation we are currently finding ourselves in.................. Job well done you lot.........................Congratulations, and of course many thanks indeed!!.....NOT!!!!


I will now await for your knowledgeable answer.

Cheers