Dave and co have screwed over shareholders. Unintentionally or not.
Previous mass Directors/insiders options exercise has been funded by selling heads creating considerable dilution. (Very little real capital injection by those involved, if any (I haven't fully researched this so maybe further back the situation isn't so black and white)).
The "sales pool" is a further dilution event aimed to reward a few at the expense of the shareholders who supported over the years.
I had to laugh at this ... Executive Chairman Mr David McAuliffe intends to apply for his full allocation under the SPP.
After I read this ... Eligible securityholders in Australia and New Zealand will be invited to subscribe for up to $30,000 of New Shares
Still ... there's probably a good trade to be had, although ... The Placement Options will be unlisted.
Surely Dave doesn't deserve to be CEO for very long ... he'll get this CR done then be moved on. Right? His plan didn't work ... he's gone burger. Right?
4DS Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
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