Snowkat, you need to look at the timing of this CR announcement, it has been made weeks after the court of law decision and weeks prior to the AGM which must be held prior to month end.
It would seem evident that the court of law decision may have held up the CR progressing prior, this may have been based on uncertainty of the court’s decision in relation to the biggest compensation pay out in Western Australia’s history for wrongful termination; this risk has now been removed. It would also seem that the bank has lent the money which leads to CTP not contesting the wrongful dismissal case against old MD, assume on my part of course.
It would seem that the CR will indeed be somewhat positive; I state this on assumption that the CR was announced prior to the AGM. It also provides a caution to poor and long suffering investors as MD and other magnificent seven board of directors may be placing hands out for a back pocket pay increase, again assumption on my part, but but but.
This will need to be a significant Capital Raising based on what CTP still need to have financially committed with-in the next four months of share holder pain.
It will be interesting to see how this lemon will be sold.
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