re: Ann: CFO Appointed to Board and Notice of... Hansel, I agree with you with this one...the Share Price has dropped from its lofty heights of 88 cents from over a 1 year ago to 8.2 cents...due to funds such as Socius driving the share price down with algorithm trading....& now Bergin is getting a piece of the action...at cheap as chips...by my calculation assuming that the share price stays at these levels...& if Bergin keeps getting their cheap shares at 8.2 cents....they will hold 61M shares...there is current 420M shares in issue (Google Finance)....so lets says they get the same conversion for their $3.5M left at 8.2 cent...that's another 43M shares of dilution...so total shares will be 463M shares...Bergin will hold (61/463) 13% of the shares on issue for the $5M debt facility used for general expenses..?
Didn't we get a cash injection from the SIOC-CDT transaction of SAD$140M (AUD$16.6M)?
Why do we need $5M from an Investment Fund with a ruthless reputation?
God save us, if after all this a capital raising comes to gift more shares to Bergin/Socius...
CCC apparently has 13.5K holders...(Annual Report 2011), so we should do something about this...because this is definitely WRONG....the poor old share holder has been SCREWED OVER...
This my friend sticks out likes Dogs balls....the ASX should be on top of this...I'd write a complaint to the ASX but everything I've sent them....they've done nothing...maybe I haven't explained myself well....Management needs to explain why they are about to gift 13% of the company to Bergin?
Funny thing I emailed management about this...they reckon they didn't know who was bringing the share price down....Mmmmm?
re: Ann: CFO Appointed to Board and Notice of... Hansel, I agree...
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