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Ann: Notice of General Meeting/Proxy Form, page-34

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BigWill2018

7,648 Posts.

1989

10/09/20

19:19

Post #: 47250666
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Originally posted by ASXspecialist: ↑

Can someone please intelligently explain how it is legal/accepted for a publicly listed company to have loans to both directors in the amount of 20% of the current market cap? What is the exact outstanding loan amount that Ted and that other guy owe EN1? Is 20% of MCAP accurate? Isn't EN1 paying them enough (isn't it over USD $250k per year?)? Why did they take the loans?

Apart from the plethora of red flags (with respect to investment) with this company, that to me is the biggest.

Isn't the fact that the company is owed millions by its own directors, the greatest sign that this is a lifestyle company? Shares down around 99% since 3 years ago, and the directors themselves owe the company millions... LOL.

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and yet the board approved to extend the loans and instead do a CR... Good ~~management~~ decision for them

EN1 Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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