Oz I posted in another post the link from the ASXinsights website where they state they need the $$ from Rich Lead ( which they do ) and that they need to vote for Resolution 6 - But the shares have been issued and the money is already in the Bank -
Resolution 6 is not asking shareholders to approve the placement to Rich Lead thats a done deal - the resolution is to ratify those shares thus allowing the company to go ahead and issue another 15% chunk of stock to anyone the board chooses at any price the board choose with out the need for a shareholder vote ( unlike the Focus sun issue that had to go to a vote )
I would have thought they would be voting no given their stated position of no confidence in the board.
- Forums
- ASX - By Stock
- CDU
- Shareholders Move to Vote against Chinese Directors
Shareholders Move to Vote against Chinese Directors, page-34
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)