I have lately been reading some compelling discussion about whether to vote on a shareholder resolution to allow directors to buy shortfall shares.
My view is that directors had an opportunity to take part in the rights issue.
The appropriate thing to do is to increase the director's fees back to their pre-austerity levels.
Another point is that I can't be bothered waiting until after September to close off a shortfall offer that we don't need to get bulk sampling up and running and fund at least some of our obligations to Newcrest.
Time delay and unnecessary dilution aren't my things, sorry lads. No yes vote for me.
Ps if we need funds, let's raise them later. Directors welcome to take part again at that point.
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