Once again, another major action taken contrary to shareholders...

Once again, another major action taken contrary to shareholders best interests to add to the growing list.

Was the CEO behind this, I hope not. But whether he was or wasn't he let it get through which is just as bad. There is more to this than poor financial management and it needs to be scrutinized. Forget the premium, we could have raised at many multiples of that down the track by using our existing cash rather than giving the company away. Like we did after purchasing an 80% share of undeveloped assets from management at grossly inflated prices despite shareholders overwhelming voting against it.

Shareholders are simply fodder for this company, their vote means nothing and management will continue to do whatever they please until they are held to account.