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2.0¢ nexion group ltd

Ann: NNG Completion of Share Placement, page-5

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rythex

708 Posts.

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26/04/23

08:31

Post #: 67449320
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Originally posted by Shadowstaffy86: ↑

Devistated…

Management didn’t even give the shareholders who have backed them since listing an opportunity to buy in at 1.5c, yet the directors have the ability to buy in, choose who gets to invest at this low price. how is that legal ??? It’s completely unethical to say the very least..

How can the company issue an additional 38mil shares without shareholder approval?? thats an additional 25% of shares on offer… simple maths says thats way over the allotted allowance.

Perhaps there is alternative agendas here being played out at the detriment of shareholders.
What happened to the debt mentioned, the acquisitions, the new customers, any new contracts, no marketing news…yet the company can announce and post what ever they want and there is no recourse?

For all the shareholders that bought in due to the NZ acquisitions announcements, have you noticed they have simply lapsed? I trust the company will detail in the 4c the full funds spent on this process as a direct loss!

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Unless you can find someone else to buy the shares at the much more premium price than the current share price then it is a fairly straightforward outcome for a capital raising.

NNG Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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