Reasons to vote NO, page-2

First 2 Last

Share
Profile

Follow
Eaglebird

766 Posts.

57

07/01/19

12:53

Post #: 37044219
Share

Originally posted by D1326 ↑

Firstly if you believe that the Board is acting in the best interests of shareholders which is their duty then you will vote NO. This is because you would believe that the Board stupidly got themselves into debt and the only way out was to offer con. notes to the major shareholder and employees and suppliers at the ridiculously discounted price of .35cents. The company is now doing well but is caught up in this deal that they made with the note holders and whereas the company would love to be paying down debt they are obliged to keep the note holders happy unless of course you vote NO.

Just think about what an investment of $100,000 at 12.5% return and a conversion price of .35cents. This investment could be worth $1million in no time. No wonder the poor Board are being coerced into offering more and more notes even though the company is doing well. So the company would desperately want you to vote NO otherwise the note holders will own over 50% of the company and will have acquired it for peanuts and wiped out ordinary shareholders

Also remember that no Board member or their family except for the major shareholder would be a note holder as that would have required disclosure. So by voting NO you are also protecting the investment of the CEO/Chairman's son who holds about 2-3% and would be wiped out by the note holders. So he would also want you to vote NO

Of course if you don't trust the Board then you will vote NO

Expand

I'm in the "
don't trust the Board" camp.
I'm e
ager to see how they play their next hand in this mess.

CTL Price at posting: 0.9¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 5 more messages in this thread...

First 2 Last

Add CTL (ASX) to my watchlist

(20min delay)
Last 0.0¢		Change 0.000(0.00%)		Mkt cap ! n/a

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

CTL (ASX) Chart

Day chart unavailable

Reasons to vote NO, page-2

Top Stories

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game