Unless companies are widely held all such votes are a forgone conclusion.
PPY is very narrowly held and controlled.
But this also means that their sources of ongoing capital raising on the ASX are similarly narrow.
This is reflected in the latest placement and even worse it does not offer all existing shareholders the same deal in a rights issue ie we are all diluted significantly with 12 cents shares and options.
Anyone who can get to the EGM should attend and voice their objection.
Interesting if they will provide any further info on progress at the EGM as shareholders only get to ask questions at the AGM once a year.
PPY Price at posting:
13.0¢ Sentiment: None Disclosure: Held
