'To translate, the board has their own interests ahead of SHs...

'To translate, the board has their own interests ahead of SHs and, this is not a company I would want to be part of, zero sum game = someone gain (Board) = someone else's loss (SH), especially existing SH.

The justifications is approaching ridiculous. I seriously hope this is not the case.'

Once again potato chip you are absolutely wrong. Any shareholder who wants to play the same game (ie subscribe for more 6c and free ops than their entitlement under the CR) can specifically do so under the CR terms.

My guess is that all holders who do this will get what they ask for pro-rata depending on overall CR demand. The directors will take what's left after that (plus their full entitlements, which in Blakeman's case is nearly 4 million shares and 4 million ops)

if the JV ann's are then released after these new shares are issued how many MNM holders will complain if the SP goes to 12c and the directors make a few hundred grand?

none mate.

DYOR.