As a concerned shareholder it is troubling that Union Pacific Trading and L39 Capital as trustee for Curtane,CT Pty Ltd should be seeking the removal of long term and loyal directors.
L39 Capital has traded shares for profit and to fund the exercise of 11,666,667 Options @01.5 cents = $175000 funded in part by the sale of 525000 shares on 22 /5/22 @ .063 cents per share ..the price then dropping to .05 cents impacted also by the exercise of the 11 million options .
It appears that the board needs to advise all shareholders what options are currently on issue and why was L39Capital issued 11666667 options with a strike price of 1.5 cents ? and who are the beneficiaries of the Certane Trust ?
The board also needs to inform all shareholders the progress of the relationship with UPT ..Union Pacific Trading regarding the manufacture of Patented products in China ...refer to my previous post here under .
What is Union Pacific Trading Pty Ltd 's relationship with UPE a major shareholder of PPY ?Has a licence been issued to UPT to manufacture PPY PATENTED PRODUCTS products in China ?Please advise progress of development plan to JULY 2021 : Stage five requires the execution of a contract between PPY and the JV Company no later thanthe end of July 2021, together with the payment of a deposit to PPY for the purchase ofproprietary plant and equipment necessary for the first project in accordance with the agreed business plan.ASX ANNOUNCEMENT8 February 2021Papyrus grants “first right” to exploit technology in ChinaHighlights:• Significant shareholder UPE introduces new China opportunity• UPE related entity Union Pacific Trading (UPT) signs MOA• PPY contemplates first “turn-key” factory in China in 2022• UPT commits to establish Chinese entity and operations• Sale of “turn-key” factories to produce moulded banana fibre products• China’s unmet need for sustainable packaging to be addressed• First PPY banana fibre manufacturing operation outside Egypt
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