I was hoping for a 2 to 3 cents dividend and am totally over the moon with 5 cents a share!! That made my day and I do believe that wishes do come true every now and then.
I concur with Jimmy Anderson that the timing of the announcement which deviates from past practice of the Company, smacks of corporate shenanigans and revolves around the impending shareholders meeting to be held on 28 September to remove "The Executive Chairman" from the Board.
The Company has to realise that shareholders with greater than 5% of the issued capital have the right to call for a meeting to remove and/or nominate directors. Challenging the 249F Notice by picking on technicalities only delays the inevitable and rakes up unwarranted legal costs for the Company. I am sure the ASX would have approved the release of the Notice of Meeting and accompanying documents.
An interesting point to note, by declaring a dividend, the Company has indirectly funded the shareholder that issued the 249F Notice. They must be over the moon as well as you are talking big bucks.
As to the Company not being able to buy back its own shares in a black out period, that to me does not sound correct. I am not a guru on this at all, but to me it does not sound right at all. Could someone help out here.
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