These guys are unbelievable, first the R&D shenanigans now a sub cash placement with a 6% fee for Taylor Collison.
Does the broker have something lined up or have the shares been placed to fend off the S249D attempt to remove the chairman and directors? Whatever the reason, it's unnecessary dilution and another kick in the teeth for holders. If funds were running low in the weeks leading up to the rebate, the company could easily have accessed a short term loan against the R&D rebate.
Pura Vida Energy (PVD) and Freshero Pty Ltd are behind the attempt to remove board members. Freshero currently have a partnership with Roto-Gro (RGI)
"Freshero is an aspiring organic fresh produce grower with long-standing relationships across the wholesale, retail and food service space in Australasia and Southeast Asia.
Led by its chief executive officer, Tony Mahoney, Freshero is in the process of establishing urban farming growing facilities and distribution centres for fresh organic produce grown near large urban centres."
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PVD are a cashed up junior in the O&G sector. From their quarterly
The Company is currently assessing a number of opportunities in Australia and overseas in order to create
value for shareholders. The board will update the market in this regard as required.
Pura Vida’s closing cash at the end of the quarter was AU$7.58 million with the Company holding an
additional $381,000 in listed ASX securities based on the market price as at 31 December 2018.
