This type of thing will never change, most of these smaller asx listed companies are structured in a way to avoid any challenge to the directors positions, try to overthrow the board and they will do a quick and cheap placement to their associates to dilute anyone over 5% to under the threshold as not to be able to call an egm to vote on issues. I’ve seen this behaviour first hand when I was going to call an egm to vote on a board spill. Most of the guys running these shows just milk it for what they can get and move on leaving a train wreck behind them, as I say this may not apply to this crowd but if it smells like rotten cheese is more than likely rotten cheese.
YOJ Price at posting:
9.9¢ Sentiment: None Disclosure: Not Held
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