madau, Hmm is something missing here? ahh here I go again... I remember the liabilities were quoted at over $5m. Those figures are somewhat shy of the mark it seems.
I did say from the meeting didn't I?
See below for the 7 resolutions breakdown in the AGM that were passed by shareholder approval.
Note this isn't inclusive of the chairman's issue of shares, the prior 28,461,848m shares issued in lieu of payment dated 29 September which I think you have noted. These were within the 15% placement rules.
Interesting Mr Percy & Mr Allen have not received a salary or fees or superannuation since 2012. Very little disclosure on this in the past.
I also refuse to use the term 42% discount as this debt is historical and IMO should be viewed as it reflected the SP when the debt occurred. Back in 2012 NME had an SP of around 8c or maybe greater & today it is about 3c, so I do understand the 5c premium against today's SP. It's a deferred debt for most parts & I would be filthy if the directors took advantage of this at today's SP. But why some creditors have accepted the 5c is beyond me, maybe they were influenced or had little other options, maybe their debts are historical also, don't think so. This is possibly me being cynical, but I think my theory has merit.
MCT Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
