RE: eh15 Sep 2022 09:50
I never said anyone was doing a cracking job, Cracking is not a word I use. it looks like you were discussing with a different poster and u have me mixed up with him. I have not posted on delt lse bb since i left at 3p
Posts: 4,405
Price: 3.80
No Opinion
Re Fund Raise/Board13 Aug 2022 08:30
"Have done a cracking job and cannot be criticised"
Really?
Directors are Elected by Shareholders and have a fudicial duty towards those SH's.
The way the Fund Raise(Placing) was engineered and implemented in 2019 hardly discharged those duties in a fair and equitable manner. The need for the Fund raise was severely criticised by Algy Cluff who had only stepped down from the Board a little over 1 month before the Placing. A Placing, which the documentation indicated, had been in the mind of the CEO for many days, ultimately implemented at speed due to a leak.
Apart from New Investors(instituions) and Michael Spencer, 4 Directors allowed themselves to be part of the Placing issue, each taking up 570K new shares at 1.75p.
The Board have done a "cracking job" for themselves and were criticised by the company Founder who had retired just prior to the Raise.
j1osf. the scenario you suggest already exists as devised in June 2019 by the increase in shares taken up by MS and New Investors. If you have the time and inclination, and posts have not been archived, suggest you read various comments made in June/July 2019, when it was considered the Company could be taken Private by a Group acting in concert, ordinary being powerless to stop it..
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