Shareholders Move to Vote against Chinese Directors, page-33

Hoots, you have raised a very important point and something I don't think the group has thought about.

The thinking of voting in favor of that motion is because they need the money from Rich Lead, therefore voting in favor allows the money to come into the company. They have not thought that it has already happened therefore voting against it stops some further dilution.

However, if they were to place another 30m shares because that motion was passed, and then pulled the rights issue, that could be a good outcome for shareholders anyway. At least it would likely start trading again before any rights issue then came up and true value could be worked out by the market, instead of this 80c current rights issue where everyone is flying blind as to the value of shares.

So overall, in a round about way it probably does work in shareholders favor.