Vmoto and FCA Bank, page-12

Hi AFD,

On the subject of a dual listing.

It seems there is a time for everything and Charles has learnt from experience that listing a micro cap that is not on a growth path of raising more capital which necessitates feeding the brokers snouts, that are in the trough, by diluting existing shareholders with a constantly recurring stream of capital raisings is an up hill battle and having a dual listing is twice as expensive and involves twice the reporting.

He also learnt that paying brokers a retainer to support the stock is a total waste of time and money if there is no ongoing underwriting commissions on offer.

He has been there and done that, thankfully at previous share holders expense, and having learnt from the mistake cancelled the AIM listing which came as part of the process of funding stage two of the factory. See attached announcement.

Without brokers trying to earn an underwriting commission by fair means or foul it seems that dual listing has no more chance of finding buyers who aren't attracted by what the company is achieving than one has.

Vmt is focusing on building NPAT which as sure as night follows day will, when markets stabilise, result in an increase in share price and market cap.

The ASX were rewarding the growth in profit with a PER of 60 before covid and all the other scary stuff emerged and when all that disappears and markets return to normality we will find ourselves in the all ordinaries Index and institutional investors will be bound by their operations manuals to invest. Good luck to them buying their quota on the cheap.
Sorry my mouth is watering just thinking about that happening.

Like a few posters who think management are the drivers of share price performance Charles thought he could pay a broker to get the price moving up. Another lesson learnt.