As a non holder but interested reader I think that it is good that shareholders are questioning their directors actions and not accepting dilutions without questions.
The combining of smaller parcels of shares into a notable parcel will certainly have more clout when asking the questions of directors/ management.
Whether the current capital raising (as part of many previous ones) is really necessary or not needs to be justified and explained by management to shareholders.
They then need to be accountable for how that money is used to increase the value PER SHARE for existing holders - as per plough's comments.
Good luck. My suggestion, instead of just voting down the Resolution is for the 'leader' (BWJ?) to phone your MD and discuss it with the backing of a large block of shares from smaller holders. This way management can be told why small shareholders are concerned instead of just seeing a block of 'no' votes on the resolution.
Good luck.
Cheers
John
As a non holder but interested reader I think that it is good...
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