Australian Gemstone Mining Pty Lt (AGMPL), page-8

If it's been approved by the board (who have been voted in by shareholders) and has been publicly disclosed then it's ok. But if the board and/or shareholders are not independent then there's clearly an issue. Apologies - I am not overly familiar with the make-up of the board/shareholders but I think someone mentioned that it's dominated by family members?

I used to work for a company where the majority shareholder company dominated the board. The market obviously did not like it but it's perfectly legal even if goes against corporate governance guidelines. Anyway, the company eventually did the right thing and brought in an independent board and the share price doubled. It's all about perception of doing the right thing. And QBL do not give that perception by any means.