RESOLUTIONS 2 – 5 ISSUE OF OPTIONS TO RELATED PARTIES
I would like anyone with a knowledge of the Corporations act to provide some advice on this.
From my limited understanding, a related party cannot vote on these resolutions. So, for example, IMO, if David Lenigas is a related party to Clayton, he cannot vote in favour of issuing 60 million options to Clayton. Is that correct?
There are likely to be many other relationships so if anyone can provide info on these it will help.
I believe the only way to stop these is to find a way to negate the votes of some ex Directors and current directors. Otherwise the other shareholders will be outvoted. Any ideas welcome.
Following input from everyone on HC I am happy to send a suitably worded complaint to ASIC. If we do enough groundwork and are able to provide factual evidence, ASIC will be forced to act.
ASIC is the police force. Only ASIC can ensure ARV follows the rules and takes action if they don't.
Please help me dig up facts/evidence and provide legal/commercial knowledge support.
Happy to provide an email address if you want to communicate by email directly to avoid public media.
Thanks to everyone who feels the same way.
AJ
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