Questions for the auditors27 Jul 2018 11:45
Will the auditors explain at today's AGM the following:
A. Note 16.3 , 2017 audited accounts, why does the paragraph say 11million share options were issued?
But the next table and the Black-Scholes model say 15 million options were issued.
So what is the correct number issued and why was it not corrected during the audit?
B. Also, the same note has the March 2016 options having an exercise price of 0.75p in the paragraph and table.
But again the Black-Scholes model uses 0.55p. So what is the correct exercise price and why was it not corrected during the audit?
C. Due to A and B above what is the correct share options value and is the disclosed directors' remuneration disclosure for 2017 correct?
D. Note 14 states that there are 388,496,747 0.5p deferred shares at 1/1/16 and 31/12/17.
But the 2015 accounts show 388,496,594 0.5p deferred shares.
So which is the correct number and can the auditors state what they are going to do to correct the accounts if the 2017 figure is wrong?
D. What has happened to the 2,956,929 options issued to Driftwood Capital Pty Limited in July 2011?
They were disclosed in the 2015 accounts.
So why have they not been disclosed in the 2017 accounts?
E. What audit tests were carried out to confirm that Renewme Limited held 90,932,961 shares as 6 June 2018 as per the Substantial Shareholders disclosed in the Directors Report?