Hi All,Nicholas Curtis non-executive Chairman currently has...

Hi All,
Nicholas Curtis non-executive Chairman currently has
4,000,000 shares 19.5% of Forge. If the Lynas Forge deal is successful Mr Curtis stands to receive for nil consideration i.e FREE 24,000,000 Performance shares as his reward taking his holding to 28,000,000 shares or 37% of the shares on issue.

Directors Holdings;
1. Emmanuel Correia Chartered Accountant non-executive Director 325,000 shares plus 608,334 20c options

2. James Lewis Malone non-executive Director 375,000 shares plus 125,004 20c options

3. Harold Ou Wang non-executive Director 350,000 shares plus 116,667 20c options

Matthew Peter James is a Lynas employee 350,000 shares

Oliver Curtis 300,000 shares

Paul Marks Business Associate of NC 300,000 shares

Nyree Correia( wife of Emmanuel) 200,000 shares

If the deal proceeds Nicholas Curtis stands to receive a windfall in Forge shares.This is only a minor issue compared to the fact that he will control 37% of the company.
At present Forge Resources has $3 million in the bank and no staff or infrastructure.Lynas has estimated that it would cost $1billion to develop the Crown, Coors and Swan deposits.
The only way that Forge can even commence on this task is to issue equity and severely dilute existing shareholders and expect them to continously contribute funds to finance resource definition, BFS and DFS further down the road.

Please keep this in mind when you receive your Explanatory
Memorandum which has been delayed due to questions raised by Lynas shareholders and ASIC regarding inadequate disclosure by the Directors in the original draft.


regards


jukieoz836