re reading they have stated they are issuing this to both directors and senior management, as well as major shareholders. Not on!
If they do a SPP on same terms then existing small shareholders (like me) can choose whether they are diluted ot not.
As it stands the directors are diluting us, and giving themselves a discount and free options (facts that are in the asx ann).
If there is no SPP I will be voting against tranche 2, and suggest all s/hs do the same. All the "major shareholders, directors and senior mgt and any related parties" who are participating will NOT be able to vote - so a bit of small shareholder power can be brought to bear here. I spoke to a Company secretary (not SMD) who said an SPP wouldn't be that hard or expensive to do, especially given they now need a shareholder meeting to issue these to themselves.
Let's not let apathy allow this !
SMD Price at posting:
8.7¢ Sentiment: LT Buy Disclosure: Held
