Thanks for clarifying Karll. I think it's a flaw in the corporation law if that's the case, but there's probably some logic that I'm not aware of.
It do think it's a question of mandate though. If they go and sell x million shares for a particular purpose, and then they get more interest and issue more shares, then they can do their mandate + something else, which is at the discretion of the board, but is not mandated by the shareholders.
Similar thing happened in the Boxing Day Tsunamis all those years ago � many people gave money to charities for tsunami and the charities got way more money than they could have put into the purpose of what they raised the money for. The only ones decent enough to give the money back were Medecins sans frontiers from what I can recall. The others took the money and put it into other programs - which donaters hadn't given their money for.
It's probably a moot point in this instance, because the up to 30% is not a great deal more than they are going for at any rate.
CTP Price at posting:
49.0¢ Sentiment: None Disclosure: Held
