seems the press have got wind of the EGM proposals
Saturdays courier mail - by James McCullough
THIS is just so '80s. Directors of Brisbane-listed drug therapy group CBio are asking shareholders to flick them a few very large shares and options at an upcoming meeting on July 15.
CBio listed on the ASX in February, 2010, the company's major product being a drug therapy that could provide safer and more effective treatment of auto-immune diseases such as rheumatoid arthritis.
The stock flirted with greatness, listing at $1 and quickly slumping to 50c a share before finishing the day at 38c.
The stock is now running about the 70c mark and, in its latest notice of meeting, shareholders were asked to approve the issue of $400,000 worth of shares at 16c.
CEO Jason Yeates is asking to be handed 2 million "performance rights", while executive chairman Stephen Jones wants the same. Should be an interesting EGM.
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