a managing director resigning in the middle of a share issuing?
I don't remember a similar case in last 25yrs.
Two possible reasons behind it:
a) major shareholders have put such resignation as condition precedent for joining the issuing (as I would so have put)
b) share issuing is believed to be unsuccesful and will likely soon be suspended, addressing Iggy as the reason and deciding for (i) a new financing proposal or (ii) liquidation and assets sales
Next few days will clarify.
Hoping the best for all Longs.
GXY Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
