"Won't it be logistically easier and cheaper to pass resolutions regarding Board's positions at the AGM in November rather than calling for an EGM, probably in July/August. August to November is only a few months, so why the big hurry to get rid of the Board asap? "
Your comments would have some degree of commonsense if it were not for two very important facts
1) The Board is going to call an egm very shortly in any event, and if they (and you would never know with this baoard what they will do)call the s249D egm meeting at the same time, then there is clearly minimal extra costs.
2) The Board is going to call an egm very shortly to a) issue more oppies and b) to possibly remove listing rule 7.1 which will allow the current board the opprotunity to issue a further 15% of the share capital without any further shareholder approval.
So potentially by the time of the AGM, we could have the current shareholding diluted by at least another 15% .
I suggest that they current board has diluted the shares enough, some 3 years ago we had approx 600 mill on issue , today we have 1,25 billion.
Its your and my money being diluted.
CB
CTP Price at posting:
48.0¢ Sentiment: Hold Disclosure: Held
