sorry, page 147 .... read it carefully folks!

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AmWatchingYou

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26/07/23

12:34

Post #: 68989274
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Originally posted by AmWatchingYou: ↑

Announcement is clearly a positive, but sadly Governance continues to disappoint.

A hugely important omission on p145 of the Form F-1 under “Related Party Transactions".

Recall on 9 February 2023, the coy announced in relation to the $4.5m placement at 30cps that :
“The placement was led by Directors, and specifically includes further support from major shareholder C2 Ventures, an entity controlled jointly by Craig Cooper (CEO) and Niall Cairns (Chairman), and Mr Jarrod White (Executive Director). The Placement participation of Directors will be subject to shareholder approval at the Company’s next annual general meeting.”

When they said they led the placement, did they really? If they signed a document requiring them to participate subject to shareholder approval, they why hasn't this been disclosed in the F-1?

Now that the share price has fallen over 40%, are they treating their participation like a free option?

Yet they are happy to disclose their intention to participate in the Convertible Notes - “C2 Ventures Pty Ltd is proposing to participate in CardieX’s convertible note facility...”

Was this omission an oversight or by design? Where are the Independent Directors?

I hope the regulators on both sides of the Pacific are watching.

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sorry, page 147 .... read it carefully folks!

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sorry, page 147 .... read it carefully folks!

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sorry, page 147 .... read it carefully folks!

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