Can directors, who's legal duty of care it is to do what's right for shareholders sell 17.9% of there personal shares at 53c then do a capital raise for less than 53c ???
The answer is NOPE! No chance, NO WAY !
The question will be made by lawyers that if MTC needed funds soon, why didn't they simply do a small placement of say 5 million MTC shares at 53c to Minerva and raise $2,500,000 which is Way Way Way more than needed to wait out the strategic sale process Gino has been advertising on many Youtube video's !
Instead of taking a $550,000 cash Deposit from Minerva into there own personal pockets, just a small 1 million share placement to Minerva at 53c would have been the only thing legally they could have done that was in shareholders best interests & not there own best interests....
The question today is also obviously, why didn't they just accept TFM 63c total offer which is multiples higher than 16.5c & not too far away from the 53c they sold there personal shares at ?
Questions, Questions, questions!
Shareholders are paying the price today, but unless they get this sold for greater than 53c or get funding for greater than 53c equivalent , then it's directors buttholes that will soon be paying the price!
The good thing for shareholders is they are desperate to pull a rabbit out of there Ass's to stop there buttholes being examined at Acacia Prison Perth !
MTC Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
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