Corporate Governance

this thread is unlikely to get much interest I suspect.

Of interest is the recent speculation that Dennis Eck may support the capital raising or other so called "professional investors". Upon being challenged as to why shareholders could not also be offered "discounted" shares on the same terms the chairman, Dr David King, waved of this notion as it is often fraught with SP decline and a longer and more involved process. Far easier to "place" the shares with those with willing and available funds. As a shareholder, I find this particularly galling and offensive as if retail shareholders should not be off consideration.

Now that this capital raising is timed to be released inline with the 4C, I would think that any "placement" at a discount to Directors or "associates" should be offered at a premium to the SP (10 day moving average prior to ann) and not any any discount.

If this is not done then the inside knowledge of the 4C content and it's inferred (ASX media release 11th Jul Slide 14) increase in quarterly revenue would surely constitute a conflict of interest and an affront on principles of good Governance and likely a breach of ASIC guidance. Let's hope that doesn't happen.

I note that in the same presentation the Chairman and Mr Bruce Gordon also bring to the board the notion of "Governance" ( slide 5). Let's wait and see.