Ann: Rights Issue Closes Oversubscribed and Additional Placement, page-7

It does appear that David Messina took up his 25 million shares and options and will pocket the under writing fee and forego three months salary as payment .

Charles Morgan took his full entitlement and is now the largest individual share holder .

Steven Keenihan took up 10,052,655 shares and options .
His entitlement was 36,473,667 .
Last financial year he was paid $174,400 for working part time for the business .

The prospectus stated .
" Director Steven Keenihan has indicated his intention to subscribe for 55% of his entitlement ... "

55% of his entitlement was 20,060517 .
This is almost double the amount he took up .

It is not a good look when investors cannot rely on the statements made in a prospectus .

gltah