Ann: Update on Substantial Shareholder Transaction, page-52

100% agree. My understanding is the same. It’s all about those 5M performance rights which they tried to sell as it is but asx did not allowed. Now they have to wait till PFS done to convert those rights to performance shares so that they can sell.
It is always bout the directors never about the general shareholders.
To complete the PFS, company will need fund means a capital raising is imminent. I expect share price to remain in the range of 15-20c until the PFS then to fly to the 50c level.
Management will try grab more performance rights in the next AGM which we definitely vote NO.
The transaction is made such a way so that all directors and related parties can achieve maximum benefit, who cares about general shareholders.
I don’t know how asx was satisfied this transaction will ultimately benefit general shareholders not the insider directors and related parties.
I am not touching anything in future where Gino and all other related parties are involved.

This are all my opinion only. DYOR.