The directions actions are illegal, and if they could get away with it they would do the same again. They are hastily rushing the program through now because they believe it will be harder for ASIC to reverse the transaction after it is done. I suggest we sign a 249d.
As to the directors taking pay cuts, they will award themselves stock options at an appropriate future date, if all goes according to plan.
As to claims that my reactions are over emotional and not useful for investors, the next capital raising in 6 months will require another 95% dilution if this practice is allowed to go unpunished. It's a no brainer. Do you want to invest when you know exactly the treatment you are going to get next capital raising?
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