SPP - Total Discrimination Against Foreign Investors

I am a foreign investor and I hate these SPP's as they are totally discriminatory against non AUS & NZ investors.

PRR's one is particularly galling to say the least.

No ASX listed company which has decided to list its shares on another major exchange anywhere around the world should be allowed to carry out a SPP (they should be totally banned).

The PRR directors should be ashamed of themselves & withdraw the SPP immediately having failed to ensure an orderly market occurred on the Nasdaq today, by only issuing the foreign Issuer (6-K) report on the SPP to that market after it had closed, when it could clearly have done so at the same time as it issued the European medicine Report (pre-market opening).

To price the SPP issue at a discount to the existing share price, on the eve of such a major company announcement (which was clearly going to boost the share price significantly) shows the board's total lack of respect towards all its shareholders.

As over 50 % of the company's shares are in ADR format. I hope everyone of those holders votes at the next meeting against the next remunerations report & votes against every single one of the directors when they come up for re-election over the next 3 years unless they can clearly show that they opposed this SPP in the first place. Vote against the issuance of any director share options or performance shares as well.

I actually hope those in the USA think about a class action against the company's director & sue them for any losses that they will occur because of those directors actions.

The next time the company's looking to raise funds, foreign investors should tell them where to stick it.

I wonder just how many foreign investors will be totally disillusioned by what's happened & will never go near the stock again.

I hope the big foreign shareholders demand answers from the directors & if they don't withdraw the SPP demand there resignations instead.

LOTM