VR1 5.00% 2.1¢ vection technologies ltd

Forbes article, page-27

  1. 2,216 Posts.
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    Careful there champ.

    I didn't 'promise' anything.
    I relayed information provided directly to me from management.

    The cap raise that was done had a few components to it. The CEO wanted to minimise the size of the dilution so sold some of his stock into the raise, making it net neutral on SOI. This went to some 708's.

    The other part of the raise consisted of newly issues shares. All of that went to institutional shareholder. If you think management outright lied then you should take it up with them directly and then with the ASX and ASIC.

    I saw the top 100 register directly before and following the raise. I do not have an issue.
    I also think the timing was excellent and was in the interest of all holders considering the raising lower would have been far more dilutive, although it was not planned and was a bit of a surprise for all, including myself...the BOD made a very quick decision and moved on it as the SP was benefiting from all that META hype.

    My issue at the time and still is around issuing of in the money options to mates of the chairman. Management learned a lesson that week.
    I do not believe it will be repeated.

    I believe the business has grown considerably in the last 15 months since the raise, and the drop in the SP has allowed me and a number of my colleagues to add substantially to our positions. If the market can not see what is happening here, I am not concerned. The numbers will talk loudly soon enough.

    10x
 
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