Well, I did post this a few days ago...and true to form, they've used the extension time for the delayed facility of the AGM to plan this strategy !!
https://hotcopper.com.au/posts/58461805/single "The convenient delay of the AGM gives them an extra two months of planning which pretty much sums up the whole theme here - and it's not particulary planning for the sake of good business practice, new contracts or responsibility to shareholders with full disclosure - it seems more like planning the next strategy in the battle against shareholders and the funding we have provided in good faith to grow a profitable business. 2022 will indeed be interesting ..."
Likewise to yourself @notrichyet , all 'Against' boxes duly ticked.
There are many aspects of this agenda that absolutely stink and as the notice is over 30 pages long, that shouldn't put people off reading it in it's entirety - please carry out your own due diligence everyone.
Some of the proposals probably deserve their own new individual threads so as not to have everything in the same melting pot to confuse issues. eg: AGM - AGMPL PAYOUT and AGM - 10% EXTRA SHARE-ISSUE FACILITY !
That's right ! They want you and I to vote in favour of upping the percentage of shares they can issue in this 12-month period from 15% to 25% WITHOUT HAVING TO REQUEST SHAREHOLDER APPROVAL !
Why would they table a motion such as this when they're 'supposed' to have (my estimate) around $11,000,000 cash in the bank comprising of $9.982M reported in the Sept quarterly plus the (unnecessary) $1.8M subsequently raised - and minus costs exceeding income.
Helping them lay a foundation for the next 12 months of disrespect towards shareholders is not going to happen on my watch ..... Dyor
AE
CGB Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
