arlberg1...
Most companies with 500m shares on issue actually started out with less shares on issue than CEL has now...then they go and issue stock to mates at a discount to market...over and over...and over...
CEL did not need to pay this loan out with shares...period!
The fact the directors also benefitted from the placement...indirectly...I suggest was a major factor in their decision process...in my view.
Dress it up as you want, but the loan has just been paid out at twice the dilution required.
This is the same sort of behavior that results in billion share registers!
Fiduciary duty?
Cheers!
arlberg1...Most companies with 500m shares on issue actually...
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Last
5.6¢ |
Change
-0.004(6.67%) |
Mkt cap ! $78.61M | |||
| Open | High | Low | Value | Volume |
| 6.0¢ | 6.0¢ | 5.6¢ | $43.42K | 757.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 137264 | 5.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.9¢ | 250000 | 1 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| CEL (ASX) Chart |