The Board offering themselves over a million shares at 10cents each ie at a discount to current share price. Just over a month ago they were offering themselves almost the same number of shares at 14cents, until the price dropped below 14cents.
Why aren't ordinary shareholders offered the same opportunity to buy at a discount.
There is something not quite right in all this.
I have said repeatedly that this company does not have a 3 year financial plan. It is always hand to mouth stuff. It should have been raising the capital when the share price was higher a number of years ago. Why all the dilution of shareholder holdings?
I have been a consistent supporter of this company and its Board, but this really seems to demonstrate a betrayal of trust by the BOD towards the shareholders. Disgraceful! I will be voting no.
SAU Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
