Have a look at the wording:
"the Albion Board retains the right to place any Shortfall to any person at their absolute discretion within 3 months after the closing date of the Entitlement Offer, at the same issue price of $0.001 (0.1 cents) per option."
Now do you understand a different purpose of this options issue - not to reward 3 months worth of loyalty - but to create an opportunity to issue millions of "Shortfall" options to insiders at a minuscule 0.1cents (compared to fair value of maybe 5-7 cents). There is no need at all to have this ability to issue "Shortfall" options - just issuing the loyalty ones is enough to reward 3 months loyalty.
I had been considering investing in this company, but this action leads me to question whether the Board and management would be always acting in the interests of all shareholders (always a key criterion for me in a new investment).
All IMO, and happy to hear views on this.
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- Ann: Loyalty Options Prospectus
Ann: Loyalty Options Prospectus, page-8
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Last
4.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.937M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 46934 | 4.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.8¢ | 150000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 46934 | 0.045 |
1 | 250000 | 0.044 |
1 | 100000 | 0.041 |
1 | 13520 | 0.037 |
1 | 200000 | 0.035 |
Price($) | Vol. | No. |
---|---|---|
0.048 | 150000 | 1 |
0.050 | 134999 | 3 |
0.051 | 150000 | 1 |
0.055 | 57639 | 2 |
0.079 | 16666 | 1 |
Last trade - 16.12pm 12/11/2024 (20 minute delay) ? |
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INFINI RESOURCES LIMITED
Charles Armstrong, MD & CEO
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