I remember reading thru all that info pre-IPO, just the change of control line I don't recall, something to read on weekend now!
Thanks for the snippet from propsectus/constitution
@birdchirp!
CEO change was in October 2017, board spill was March 2018, what & when is considered 'change of control' ??
Very loose wording as
@ajs510 mentioned.
I think it'll be something the lawyers will suck our funds over, sorry argue over.
Certainly seems odd that upto 12months later AFI & Pegasus have brought this to a head.
Then again with management acting as 'bend-over management' giving in to Jason Colquhoun salary increase & millions of shares & options based on nothing, could've & should've been a revenue increase in CM based incentive. How obvious.
Then now we see more showers on the horizon in the form of shares & options pelting down on the whole board plus miscellaneous 1.2M shares to mates!
Throw on top Resolution 2 in upcoming EGM to hand out share options at will without shareholder approval/knowledge.
No wonder to me why AFI & Pegasus want in on some action & if there's a loophole there, why not squeeze through it.
As disappointing as it is I don't blame them, more so I blame the amateur current board who claim, sorry promised to be the "Good Corporate Governance" & Transparent board, yet with newly appointed Gary Radcliff on the board being practicing barrister & President of Bar association, wealth of experience with Xu & Beasley in Global Investments & Economics, shirley one of them would have read the prospectus/constitution & known about this clause.
I can't imagine this will be settled quietly & peacefully as one thing we know EGO is strong on current board.
License now further delayed due to these proceedings, CR next year due funds spent on lawyers, SP bottom out, ah am I being pesimistic??
One thing foresure, those buying on the dip will get another chance in the 40's.
(20min delay)