Yes, thanks Jag for making that clearer than I did. I (reluctantly) took up my entitlement (in part) and felt let down by the Company Chairman, who was the only director not to contribute to the much needed working capital.
The prospectus advised that the funds were needed to: Pay the 4M project Nov 2014 cash call; cover the 2012/2013 legal costs awarded to HG/Q; pay the costs of the offer itself - and to supply much needed working capital to pay directors salaries and fees as well as the current ongoing current litigation.
IG did support the RI in full and he already accepts a lower salary than our other directors. I notice that, as Chairman of ORS, Ian Gandel has introduced considerable belt tightening re directors salaries, and I hope that AGS directors will do the honourable thing too, and accept a cut in their salaries should future events require it.
AGS Price at posting:
7.6¢ Sentiment: None Disclosure: Held
