He also has a legal obligation to mitigate his losses.
He therefore has to prove a series of things in my opinion.
a) was there a binding contract in place to obtain 130m shares for 8.5 cents. or was it simply "an invitation to treat"
b) Was that contract breached by CTP. (Failure to perform)
c) Has CP been damaged as a consequence.
d) Has CP mitigated his losses, (I see no evidence of 130 mil shares being bought at more than 8.5 cents)
As I say, the old board will not be there in 2 months and if CP gets a director onto the board, I suspect that all this will just go away. (There will be a settlement of the matter)
CTP Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
