Here is a hypothetical - of course, i am not saying that this is the CM8 situation!!! SPP announced. Very few takers of SPP. Directors etc take themax. allocation (say for example, a max allocation of $15K at 3.8c), increasing their holding at a very small fraction of their (hypothetically) insane salaries. Then, the directors "generously" take up the rest of the (say $700 K) share offering at a price lower than 3.8c to "keep the Co. afloat" and have future SPP at lower prices that the directors take up in a similar fashion.
Result: over the next few years, the directors slowly buy back the company (still receiving insane salaries) for next to nothing and then, after privatisation, just use (say) the social media arm to keep paying their salaries without ASIC or shareholder scrutiny.
Again - any one going ot the AGM? Happy to assist in drafting some pointed questions for the Board.
