RED 1.23% 40.0¢ red 5 limited

Ann: Initial Director's Interest (x4), page-3

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    So did Tonkin already own these 11mil RED shares (through the trust), while he was negotiating the TO deal on behalf of SLR? Or are these his transferred shares across from SLR?
    If it's the former then clearly that presents a conflict of interest during the negotiations?
 
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