CIZ 0.00% 0.0¢ corizon limited

Ann: Entitlement Offer - Dispatch of Prospectus, page-14

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  1. 137 Posts.
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    Sorry for the triple post but for my grand finale I did a bit of digging back into the WPI announcements for the directors positions, they are pretty small salaries but they defintely aren't hurting like we are.

    Gary Lyons - is not too bad, only held around 7 mil shares, his director salary over the years will cover it.

    Matthew Walker - might be stung a bit but remember his 1st placement was at 1c and also has made money back through Ciceros fees + plus directors fees

    Teck wong- i thought he might be hurting with nearly 40 million shares but looking into it he was given those shares back in wpi days in lieu of director salaries and a large loan he provided which was converted to shares, 3 or 4 years of director salaries will cover most of his entitlement outlay.

    If this acquisition fails surely we will have to call an emergency meeting facing delisting in around 10-11 months.

    Maybe we should seriously start looking at a 249d to remove the board if they have nothing, they all hold about 33% of the votes I think but the entitlement issue numbers should give an idea of how much support it could have.

    Also maybe delisting isnt the worst thing to happen, My idea was to reach out to a director of another company and see if they have any good side projects they want to try out, with the board gone( + sell the lrm shares ) and no asx fees that frees up around 300k a year, plenty to hire an experienced person and throw a few drillholes around with the last 8 or 900k left in the bank. Better than stumping out more money and just having it drag out slowly another 4 or so years until the cash runs out
 
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