You forgot to mention another possibility to your list.
And that is, that none of these Sophisticated investors came up with buying any of our previous SPP, nor did they show any interest in buying any of our shares before we have found oil. None at all. And even Pattos, during the last SPP, was not going to come up with any money if the sp wasn't going to hold up to an acceptable level set by them. No risk at all on their part mate. None at all.
Only when we have found oil and the market has started sitting up and take notice of us (CTP), they came in and took a fair chunk of our shares, And at a big discount as well, plus all of the options that none of us were offered previously.
A big kick in the gut to the long term sufferers if you ask me.
IT sucks. And obvioulsy the Board didn't give a damn about us when they did that. I believe that that part could be construed a being a major part of the contention.
And I am also quite sure that if the sp was offered to existing shareholders on the same terms and at the same discount, while based on the proportion of holdings each investor hold, it would have been fully taken up.
Instead, after supporting them before, they decided that we matter very little and gave us the flick.
I am not trying to pass judgment here. But, IMO, the Equity Division of the Supreme Court could have a hard look at that. IMHO, it depends entirely on how good a case the lawyers can put forward before and during the hearing. Especially when it was not long before that we had a Capital raising to cover what they proposed to do with the second Capital raising. DYOR.
Buddy134
CTP Price at posting:
48.5¢ Sentiment: Hold Disclosure: Held
