How do you feel about directors of Company A, setting up Company B, spinning off assets to Company B, while Company A still retains a majority holding in Company B, after said directors have bought up big into Company A.
The same directors then issue an IPO to shareholders in Company A and then the public, increasing the value of the assets on paper, and issuing themselves with shares and options in both companies.
Is this the right way to rip off the mug shareholder in the street.
ASIC needs to examine the resource industry here in Australia very closely
spin offs
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