Ann: Results of Meeting, page-70

that’s a curious answer by you, your essentially giving up half the value of what your entitled to due to some creative valuing…. But just to put this in perspective

The mining director holds roughly 3m shares or roughly 3.3% so using the rough numbers

for him to buy the mining business outright,
@ 15m valuation would cost him 14.55 million
@ 30m valuation would cost him 29.1 million

Out of the above numbers roughly 22% of that will be paid to the board for their shares. So all it would take was a board member to offer to purchase the boards share for the higher premium to pass it through at a lower valuation. Which is only roughly 3.5m additional payment.

So worse case he saves him self 11 million dollars……
and well there’s a lot of people out of pocket here.

Seriously couldn’t believe this when I calculated it out. Going to make a great thesis when I’m completed