These guys really want their 50.01% stake in MTM, so they've...

These guys really want their 50.01% stake in MTM, so they've waived all defeating conditions now, when they currently have just short of 38%.

So who's gonna sell them the other 12% ?

If they raised the bid to 45 cents, I'll sell them half, but at 35 cents this was just an insider's deal.

I expect that those selling were investors and directors who got their shares either for free (via performance rights, or sign-on rights), or as seed investors at 5 cents or 10 cents. Some of us paid 26 cents, and the IPO was at 20 cents. So only 45 cents would tempt me.

They'll probably get there in the end, now that item 9.8 (c) has been waived, but they're doing it the hard slow patient way.

And I've never been convinced that giving away 50.01% of the company is the best way to go, why not 40% to 49% so that the current management and shareholders keep independent control?

And why give an incoming CEO $1 million a year in salary and performance bonuses in a company that has not even bought in it's first season's catch yet?

There is a lot of insider stuff going on here, and a lot of relationships we don't understand.

Gw