My reading is that 50% of the placement is subject to shareholder approval (This includes the Directors' allotment)
So unfortunately shareholders can't vote against management cashing in on this, without also depriving the company of half of the cash commitment.
Obviously it would have been better if the company had only put its own allotment ($900,000) to vote. I'm sure that would have been voted down.
These guys aren't dumb.
My reading is that 50% of the placement is subject to...
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Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.71M | |||
| Open | High | Low | Value | Volume |
| 5.6¢ | 5.6¢ | 5.4¢ | $35.15K | 636.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 454296 | 5.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.6¢ | 228952 | 3 |
View Market Depth
| Last trade - 15.06pm 07/05/2024 (20 minute delay) ? |
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Last
5.5¢ |
Change
0.000 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 5.6¢ | 5.6¢ | 5.5¢ | 80835 | ||
| Last updated 15.47pm 07/05/2024 ? | |||||
| MNB (ASX) Chart |