The settlement of 16m shares by your calculations is at the current sp, correct? the settlement is probably going to take effect in twelve months or so and that could be substantially higher..... let’s assume the sp goes to 12c that’s double the give away value.
Never give away yours or anyone else’s capital, especially on such an open ended deal.
Next year they they will ask for 32m in giveaway shares what will you do then, still vote yes? Say yes and they will think your easy prey.
Ann: Notice of General Meeting/Proxy Form, page-117
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