Australia's largest stock trading and investment forum Australia's #1 stock forum

MRM

Click for more information

0.00%

33.0¢ mma offshore limited

MMA Offshore recap $100m deal, page-13

First 13 Last

Share
Profile

Follow
croasian

2,211 Posts.

48

16/11/17

14:48

Post #: 28856885
Share

Originally posted by The Rad ↑

It is actually much worse than that. I would call it an abuse of process.

They will issue 112 million new shares to institutional shareholders (reads we decide if you get any) and these will be issued on Monday 27 November 2017, just before the Tuesday 28 November 2017 Proxy cut-off. We can assume that these shares will be voted by the Chairman as he sees fit.

The retail offer to the rest of us including Halom who currently has at least 66,045,938 which is 1:1 will not issue shares in time for the AGM instead they issue 11 December 2017, well after the AGM.

What the board have done is to issue 30% more shares (112/373), to change the AGM results.

That hook on the wall just outside the boardroom, its where you hang up your morals and ethics on the way in.

Expand

Wow, excellent call that's exactly what they are doing Radster.
Mr Kum should have called a special meeting, rolled the board last year and recapped before the supply base fire-sale.

Last edited by croasian: 16/11/17

MRM Price at posting: 23.5¢ Sentiment: Hold Disclosure: Not Held
5 Upvote

0 Great analysis

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer’s drug could change the game

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

HotCopper Highlights: Your most watched stocks for Week 47, 2024

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

There are more pages in this discussion • 8 more messages in this thread...

First 13 Last

Add MRM (ASX) to my watchlist

SPONSORED BY