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Thanks for your reply, so when the consolidation of CNJ TAS GSR...

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TB51

2,660 Posts.

614

08/04/24

18:31

Post #: 73245518
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Originally posted by Lowkeyinvestor: ↑

So as a director he forked out $105,000.00 (105,000,000) into the placement for 235,000,000 shares that raised $235,000.00 that is 44.7% of those shares. Seems to me these directors and associates are maintaining control so as to prevent a low ball takeover and or shareholder action under Corporations Act section 249N etc. Where holders with 5% of shares on issue or 100 shareholders can call general meetings. Also directors know shareholders will not be happy with the board and can vote against the renumeration report when a second vote against the renumeration report happens at the subsequent AGM all directors apart from the MD must stand for election within 3 months of that AGM.
So I think these directors know there is value in the company and they want to keep control.
That is just my opinion and not provided as financial advice.

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Thanks for your reply, so when the consolidation of CNJ TAS GSR happens it must be near complete along with the Scoping study so obviously management can see value especially where the MC is currently i wonder what MC we would be when the 3 combined companies merge!
Appreciate your views cheers

CNJ Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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