Originally posted by ShareJagger
I did promise to present the time line so I will do so.
Just who do you suggest the buyer is? If not Aahana, WHOOOOPPPPEEEEEE!!!!!!!!!!!
Unfortunately it is Aahana.
So what is your theory for these 51 million shares that have taken place?
Maybe you are talking about the $740,000 shares @ 3,2 cents? So just who are you suggesting got these heavily discounted shares without share holder approval? Have you read the rules regarding the issue of shares under Rule 7.1?
Have you read how shares will be sold to Sophisticated Investors if this cash is required?
Methinks you need to do some reading and investigation and suggest you leave you distaste for Cokal Board out of your investigation.
Thx SJ, but the approval for a placement of shares to Professional & Sophisticated investors had to done with reference to the 5-day VWAP and 3.2c was no where near a 10% discount to the 5-day VWAP. Also, the only approval given to issue shares at 3.2c was under the $1m subscription deal with Aahana - and as DM has stated to the authorities, this was not the case. Furthermore, if Aahana was the buyer of those shares issued on 10 and 11 January why wouldn't DM mention that in his response to the ASX on 20 Feb. "........whilst Aahana has not subscribed for shares under the subscription, it has subscribed for shares via the general placement for working capital purposes on 10 and/or 11 January. Why the secrecy or lack transparency? What is the big deal? It makes no difference whether they had or had not.
I am merely taking DM at his word - a man's word is his bond. But if what you say is true then maybe I should, and others as well, deeply question the DMs integrity and ethical standards.
Cheers
