I can't comment on the 50 million shares, however from a corporate law perspective, CDB isn't really breaching any rules. Yes, I admit that it's not the norm and people are upset, however companies are allowed to place shares in escrow. For example, a company can issue shares to a third party for the purpose of a finance facility (where shares are sold and proceeds sent back Company) and this is totally fine. Regardless, with or without the 50 Million, I'm not certain that Farquar is going to have the votes. To be honest, I'm not sure if this is what is really after. Do you really think he wants to take of the Company or is he simply applying some pressure to the current directors to get something done. Maybe it's just expediting the deal.
Looks a lot like the ASX and ASIC dont agree with you either, I think you have just about spent any credibility you may of had.
CDB Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
