This time round, he has a push over chair, that asks what he wants… here is my understanding of what happed with a role play to help understand:
Mark Southey: Would you like 27.6 million shares DC and at what price are you planning on taking these… by the way, when will you show this publicly? We pay for professional advice by REMSMART, but we can push this under the carpet with a little statement in the Annual report…
Darryl Cuzzubbo: I will let you know at what price but later in the future, but in the meantime while Birch is asking questions, we can change the answers each 3 months. So let’s go with, for now, I get the shares for free, and set at 20c. That way, all I have to do is keep the SP (with some dumb decisions) below 20c. That will make it easy to get incoming equity on board and that way I reach FID with no hurdles.
Mark Southey: Arghh yes, and shareholders get to vote on this FID. That’s great news!
Darryl Cuzzubbo: In that regard I better get over to the Hancocks, as they hold the balance of power as shown in the previous AGM’s. I only need to convince Hancock this is good and we are all systems go…. Guess what? Hancock will be happy as they get this equity at a low price…my stuff ups only get better for me!
Mark Southey: Will that impact our existing shareholders?
Darryl Cuzzubbo: (Crickets sounding!)……….
ARU Price at posting:
14.8¢ Sentiment: None Disclosure: Held
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