So KBC who have a director on the board of MEL consistently sold over 35 million shares in MEL for seven months helping to drive the price down from 4.5 cos to 2cps and only stopped the day before MEL announced a placement to KBC (20 million) and others including the chair of MEL and over that seven months KBC filed not one change in substantial notice as required even though their holding decreased by 3.9%.
call me crazy but the directors on MEL receive on a monthly basis ALL movements on the register and would have been well aware of the breach of the law.
And now KBC are again selling sitting on the offer…another placement just as we achieve cashflow?
I will report my findings but will not hold my breath…my confidence in the board doing the right thing by minority shareholders has taken a significant hit.
MEL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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