I exited this morning for a loss. Even if shareholders managed...

I exited this morning for a loss. Even if shareholders managed to get a vote across the line to stop the transaction... what likelihood is there that a substantial change is made or that the directors won't find another way to extract the value of Aurigin Foods with the post sale capital raising?

Good luck to holders, I have lost all confidence that the directors will do the right thing by shareholders.

I won't be spending more of my time following this up, just lick my wounds and move on, however I would recommend someone on here reads through the ASX listing rules and reports them accordingly. My biggest concerns would be:

* Annie recently disposed of an interest of more than 10% of the company shares held via Columbus, can these be used to vote?

* The company has disclosed the number of franchisees signed (5), but not the number of stores very close to opening (which public information suggests to be 9, only 1 off the first performance rights bonus), in my view this is material and can't see that it has been disclosed in any of the documents.

* The transaction is passing over 66 -> 85% of the value generated by DAU to the directors... I honestly don't even see how this is legal.

If ASIC follows up with me then I will be giving them as much information as possible, but it would not hurt to have others report this also and chase it down.

GLTAH (you're going to need it).