If that is actually the case, why would anyone surprised?
There is actually no law that I am aware in the ASX CR' rules, that enforces companies treat all existing shareholders equally and fairly as in a share = a share no matter who you are.. NA.
Call it what you like but is this not "Aussie Inc", mates rates, jobs for the boys, whatever you like and is positively endorsed by the ASX - (by the lack of clarifing rules) indeed the government itself IMHO- who at the end of the day are the custodians and responsible party for the corporations act are they not?
Short fall applications, page-3
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