Do we need a refresh of this?
The website has just been.
I recommend all study of all info there.
Read it very caefully, word for word, and contimplate the meanings.
DM has signed off on all of it, maybe wrote it, so it has been carefully crafted and vetted.
As at today, PL4 finally proved the tech, but we apparently still have some practical steps needed.
See NEXT STEPS under the Technology tab.
So we are heading to an AGM, with a couple of contentious motions
1. Inclusion of DM and Howard in bonus pool. Why?
2. Approval for 25% issue, when we don't need funds and DM said no more CR's
Well after screaming VOTE NO, reading the updated website I am thinking slightly different.
MY GUESS
IMEC has told us (maybe feedback) we still have more to do (see next steps on website).
IMEC is unable/ doesn't / can't facilitate completion of these steps.
IMEC has introduced interested parties.
Interested parties want a significant / controlling stake (hence the 25% placement motion)
New partner will require board representation and likely appoint their own CEO
DM sidelined (subject to local ASX requirements), hence DM and Howard want inside bonus pool to secure / gaurantee a payday/ redundancy.
Are we heading for a partner, hopefully taking a placement at a record high placement price?
That placement will secure and underwrite the future, DM and co will still push for a buyout at 55C US plus.
There is nobody left to take this forward within 4DS, either we sell "as is where is" or we partner with someone to finish the job, IMEC or another.
So, I still will vote NO to DM (sack him) due to his failure to perform, communicate and respect shareholders.
Inspite of this, we own shares on a generational disruptive tech, that is worth $ not c's.
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