Ann: Proposed issue of securities - BML, page-71

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Oskar85

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20/09/22

11:05

Post #: 63788660
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Originally posted by Watchfulbull: ↑

I contacted Simon yesterday voicing my dissappointment at the terms attached to the performance rights. To his credit he replied same day.

Reply was - essentially the boards performance rights had expired and they are just seeking to re-instate the performance rights on the same terms as the previous ones which were overwhelmingly approved i.e. produce a DFS, 50mil finance, share price targets, and 5year terms.

So no proper thought went into checking if those terms were still suitable but not necessarily a purposeful grab for easy shares with low targets. Maybe a case that they thought if everyone approved them before then just re-iisue them again on the same terms? (everyone can make their own mind up on this).

I suggested they reconsider/revise the terms, and issue an updated announcement, before shareholders vote and Simons response was "your suggestions is duly noted", so perhaps they will change who knows.

PS: One of his comments was "We are absolutely focused on delivering our DFS H2 2022 and moving the project forward as quickly as possible", that was good to hear.

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so they are basically asking for the performance rights that expired!!! Sorry BOD you knew you missed it the first time round due to missed deadlines, that’s how it works you don’t get second chances at them. I’d be more then happy with a new proposal of performance rights at a higher price but not 2019 projected out comes

BML Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
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Ann: Proposed issue of securities - BML, page-71

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