You have got to be joking. He bought these shares from his grossly overpaid & unjustifiable salary - i.e WE paid for them. The purchase of these shares is to increase his voting power and reduce any voting power against him. This helps him to :-
- keep his exorbitant salary
- keep his position if a SH revolt occurs due to his loans & "free" iron ore to his "mate" FT.
If he wants to "show support in the most tangible way" I've got some suggestions :-
- collect the royalties overdue from Timis Mining & if necessary (& it is already) take enforcement action against them.
- advise SH that securities are in place to protect their loan to Timis Mining so we can have some (limited) peace of mind.
- reduce his salary to a market level (max. $250k p.a.)
Lining your pocket with, well below market value, shares shows a commitment to yourself TS - not to the SH of CFE. Nice try but I, for one, am not buying it.
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