The last capital raise that has not been ratified by the shareholders to TC and that created a huge dilution, has determined an outcome at the AGM that is not what the real shareholders expressed.
This fact is so bad that "destroy" the ASX made regulations and evidence a clear defeat of the shareholders protection rights.
It is too easy from any BOD to issue in convenience huge amount of shares (from resolutions made in the past when good stories were sold to the shareholders) and maintain with the "poison pill" the seats.
Today is a clear defeat of the Australian regulations.
The result is that a BOD that has determined huge losses is there to enjoy a reputation that does not deserve anymore.
Shame!
FTT Price at posting:
0.3¢ Sentiment: None Disclosure: Held