preparation for a takeover at cheap price ?

I should have been voting "AGAINST" all Resolutions from 1 to 7, but I am being less greedy by only oting "AGAINST" to Res. 3 and 7.

The recent events all makes me thinking that the whole thing goes to one direction;
a preparation by directors for a TAKEOVER AT CHEAP PRICE very soon!

I Macpherson has 2.5m shares and asking 1.5m shares plus 1.5m options. He wants to hold 5.5m shares and options.

J Sanders hold 1.5m shares and asking 1.5m shares plus 1.5m options. He wants to hold 4.5m shares and options.

I Stalker is asking for 1.5m shares 1.25m options without doing anything to deserve this fortune. He wants to hold 3m shares and options.

S Middlemas is also asking for 250k shares and 250k options although he has started just yesterday.

They are all asking for fortunes!

They currently have 4.25m shares in total, but now, they want 9.25m more shares to hold 13.5m shares in total.

There is a big difference what they currently have and what they are asking for by those resolutions! They are asking more than 200% of what they have now.

Why are they asking this much shares?

This may be the explanation;

If ELM would receive a takeover offer at $6 per share, they would receive $25.5m with the current 4.25m shares they hold all together. (4.5m x $6=$25.5)

However if ELM would receive a takeover offer at $3 per share, they would receive 40.5m with the 13.5m shares. (13.5m x $6=$40.5).

Easer to sell the company at $3! Isn't it!

I think if we give them more shares that would NOT be an incentive for them to push the share price higher!

In contrary, that would be an incentive to sell the company cheaper, wouldn't it!

That would make them less aggressive on the work they are doing and less sensitive in the case of a takeover offer.

They would even easily accept a takeover offer around $3 as they would have 200% more shares if we accept those resolutions. So, they would be already making the share price around $6 (200% of $2) for themselves in that case.

But what about us? We would not make any gain for giving them this much shares.

So, I believe all of the current shares which are given to I Macpherson (2.5m), J Sanders (1.5m) and I Stalker (250k) are more than enough for the job they are doing. They should be working harder to make the share price over $6 to make the substantial gains.

If a capital raising is needed; a rights issue should be given to the existing shareholders.

I should have been voting "AGAINST" all Resolutions from 1 to 7, but I am being less greedy by only voting "AGAINST" to Res. 3 and 7.