Dear Fellow Shareholders
I’ve been doing some research into RESOLUTION 13 – RATIFICATION OF PRIOR ISSUE OF OPTIONS
On 20 June 2023, the Company issued 8,000,000 Options as set out below in consideration for corporate advisory services provided by RM Corporate Finance Pty Ltd (RM Corporate).
- Options exercisable at $0.30, on or before 30 November 2024 (Tranche 1 CA Options) 2,500,000
- Options exercisable at $0.40, on or before 30 November 2025 (Tranche 2 CA Options) 2,500,000
- Options exercisable at $0.50, on or before 30 November 2026 (Tranche 2 CA Options) 3,000,000
Total 8,000,000
- Date 1 April 2023 (Commencement Date)
- Term 9 months from the Commencement Date, with an option to extend by agreement at least 30 days prior to expiry for additional periods of up to 6 months.
- Monthly Retainer Fee The Company has agreed to pay a fee of $10,000 (plus GST) per month to RM Corporate (or its nominee) for corporate advisory services during the term of the Corporate Advisory Agreement
I remember another Company that I was in previously entered into a similar agreement with a broking firm and the agreement basically entailed investor relations / promoting the Company along with releasing a research note. Now I haven’t seen ANY said activity from RM, in fact just the opposite! I’ve been able to establish that they use FinEx as their clearing house and whilst I do know that there are multiple brokers that use that services, following the daily data and daily trading, I would put my bottom dollar on the bulk of the trades are RM.
Looking at some data - last Friday where we had some interest but it wasn’t them. Last week they sold a lot more than they bought and if you look at the timeframe from 1
st April, when this started, then they’ve just traded us with a only a 100k net in the positive.
FRIDAY
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WEEK
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Since 1st April
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Also interesting to look at Argonaut, they had a similar agreement with us a few years back, remember those oppies that got converted in August only to be immediately dumped on the market
On 16 August 2023, ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) issued a total of 1,450,000 fully paid ordinary shares upon exercise of 1,450,000 unlisted options at $0.1425 per unlisted option. As a result of the exercise of the unlisted options, the Company received $206,625.
I am very concerned that this will happen again with these options given the dates and strike prices. I also don’t believe they’ve done anything to earn them given their ‘lack of’ and let’s not forget that it’s nearly 5% of our Company that we’ve invested our hard earned in.
This is another reason that a particularly love the new ATM facility, no greedy brokers getting cheap shares and free options.
I strongly urge you to vote
NO against these. I know I will be along with a lot of other investors I know
Here’s the link to vote online …. Just need your HIN or SRN and surname ... Don't leave it until the last minute and forget
https://investor.automic.com.au/#/loginsah
We seriously need to protect our investment!!
Thanks for reading
(20min delay)