Ann: Quarterly Report for quarter ended 30th Sept, page-22

re: Ann: Quarterly Report for quarter ended 3... tejveer1

This is true but is no guarantee of the best outcome for smaller shareholders. Maybe not relevant here, but I have often seen directors willing to dilute themselves due these contributing factors:

1) How much (if anything) they paid for the shares to start with.
2) Ongoing financial disbursements from the company to themselves are being more valuable than their shareholding.
3) Inability/unwillingness to keep contributing pro-rata capital.

But for me the key issues here are:
1) timing: considering huge income stream if successful.
2) control: probably the last chance the retail side has of affecting the outcome of a vote, esp if the 70m shares are placed at a bargain price on condition they remain friendlies.