transference of wealth?

Have any of you looked at the response by Betmakers to the ASX dated 13 December as to the payment to Trip?


1. The explanation that NTD could have used other competitive technology, will hold true for any transaction that Trip brings to BET as as part of his consultancy agreement as any other transaction could also go to competitors, but Trip did have an exclusive consultancy agreement, so he really could not have gone to competitions. How is that a justification for paying him another $15m
2. Matt Davey was part of the this new venture and was on the BET board so BET certainly didn't need Trip to introduce it to anything or get the deal for BET.
3. Matt Davey is long term shareholder of BET and is the largest shareholder of BET .
4. BET could have invested the $15m directly into NTD and it would have given BET a piece of the company as well.
5. In addition Tripp agreed to increase the escrow arrangement on the Class A performance rights for $15m but by my calculation 35m shares at say 30c per share is $10.5m yet Trip is given $15m?.
6. It also appears BET bought the software of the business that went into NTD and paid for this.
7. NTD was set up also by Matt, BET’s major shareholder and a board director.
8. Trip was supposed to bring deals such as this and it is very unlikely that NTD would have put this out for tender (having two directors both with strong ties to BET and one having a formal arrangement )
9. Would any tenderer would have given Trip $15m for his own pocket?. Perhaps they would have made the $15m payable to the company, perhaps making the tenderer bear the first $15m of costs at the tenderers own expense (not sure how many people would have done that).
10. I am not sure how the board of News Limited allowed a transaction which benefitted one of their own directors to the extent of $15m in cash or perhaps News Limited's has different corporate governance policies. 11. BET is supposed to have the reputation to be able to do this work for NTD so it would be a great choice anyway.

and then we come to the notice put out by Waterhouse. dated 24 Feb 2023
form 604 shows the sales of shares at prices from a year earlier. So the form was lodged a year late???

No query from the ASX