"ALL MOS S/H SHOULD WATCH TO SEE IF THE DIRECTORS TRY TO ALLOCATE A PLACEMENT OF SHARES TO THEMSELVES, AT A LEVEL GREATER THAN LONG-TERM S/H ARE ALLOCATED UNDER THE SPP. "
And so it has come to pass - just like we suspected.
The statement by directors that directors would "participate in a Placement on similar terms." to that of the SPP, was simply a plain UNTRUTH. It was misleading.
S/h get to participate in SPP: - to a max of $15,000 (or max 130,434 shares) - at 11.5c - and MAY BE SCALED BACK! so might not even get $15,000 worth.
YET directors get: - to participate in a new placement despite some of them not even being s/h - no scale back - at 11.5c - certainty of allocation of between 200,000 to 600,000 shares.
WHY? And they even want a pay increase !!!
So they are not satisfied with diluting existing shareholders with the placement to new shareholders!
Why should directors, some of whom have never bothered to invest in MOS, suddenly allocate a placement to themselves, at bigger and better terms than we long-suffering shareholders ?
At the very, very, very least, they should only get to particpate to a max of $15,000, and get scaled back like everyone else!
PS - the reason the could not get to particpate in the SPP - is because they did not have the conviction to become s/h of MOS like us!
** SO VOTE "NO" AT THE AGM OR ON YOUR PROXY TO THE DIRCTORS PLACEMENT AND TO THE SALARY INCREASE *****
cheers
MOS Price at posting:
12.5¢ Sentiment: None Disclosure: Held
