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Hi S/S my old son! .. it's called greed .... didnt you see Wall St ? TS is as popular as a pork chop in a synegogue and he either shores up his support or looks after himself or his mates.Dont expect any explanation as these co's are his own private feifdom.. "it's my money and co so I will do as I like" and stuff the shareholders!! Reminds me of Ripper and his budget surplus... the guys are full of their own s..t. Maybe they are for Perth Glory players to stay on board and not go to a winning club.My understanding is that these type of issues are for specific projects or fund raising for liquidity etc.... but this bloke dilutes co's in a new form .. look at what he done to CFE ,heaven help GFE when he remembers that he runs that too !It"s rape and pillage 2008 style and corp law protects him... too bad about ethics ,corp governance and acting in good faith for the shareholders... He makes Gordon Gecko look like a saint.Look at all 3 co"s he is on, the share prices are all stuffed,and seriously, we cant blame the USA for all of it.After the CFE fiasco, cant believe that the ruskies or chinese havent taken him water skiing in shark infested waters or deep sea diving with a cement belt/boots.Maybe one day he will turn up at Simsmetal in a crushed Ferrari which will be traced to a broker on the Deng/Mcc sale package!!! Cant wait to wipe my hands of this parasite.PS... re shareholders meeting on 15th for CFE, cant see any more damage that can be done by electing a new board, maybe they might discover corp gov and ethics!