We gave Ron the approval... The shortfall was covered. "The...

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thecableguy

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216

08/04/24

13:30

Post #: 73239578
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Originally posted by InItEarly ↑

A lot of guessing in here with the negative being in focus.

I get that, but there are plenty of assumptions being made with very few facts.

I dont recall Ron saying he would take on the shortfall. He was chipping in $500k from memory, subject to shareholder approval.

There were deals that were imminent, and while I know that could mean nothing, it could very well mean something.

If one of those US deals comes through, the revenue might not save us, but I would certainly take a different view on further investment.

I am sure many others would too (and the shortfall could probably be placed regardless).

I have sympathy for Ron being tired, but have been impressed by his efforts since stepping into the hot seat. I certainly feel that he owed us that and to keep going through this period, given the board let the previous management run for way longer than was reasonable.

Now I understand his likely reasons for letting the previous MD save face for as long as possible, but that has come at shareholder expense.

Lets see what happens. Until we know something meaningful, we really don't know anything.

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We gave Ron the approval...

The shortfall was covered.

"The shortfall of the Rights Issue is 53,017,212 New Shares ($1,060,344.25). As set out in the offer booklet for the Rights Issue released to ASX on 18 January 2024, HMD reserves the right to offer and issue New Shares from the shortfall at its discretion within three months after the closing date. To date the Company has received indicative offers for the balance of the shortfall from new investors and existing shareholders including the Company’s Executive Chairman, Dr Ron Weinberger, who has received shareholder approval to subscribe for up to $500,000 in the placement of shortfall shares."

TCG

HMD Price at posting: 1.8¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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