Member Info for Malaysia888

If you agree with the following, use your votes at the General Meeting on 4th Jan (last date for proxy receipt 2nd Jan) to vote against the waiving of preemption rights that grant 40 pc discounted shares to the Chairman. The last rights issue was 3x subscribed indicating strong shareholder support. Shareholders have been diluted by 20 pc with shares granted to outsiders (via waiving of preemption rights). They were not given the opportunity to support their company via a rights issue. It is not relevant the the shares are now near to the placing level. The cavalier allocation of deeply discounted equity to outside parties is expensive and WHY the shares are at this level. Hargreaves Lansdown take proxy votes via secure message.

If there was any update then the Chairman would know. If the Chairman knows anything substantial then he would be considered an insider, in which case, he would not have been able buy shares at such a huge discount to the market price. Maybe some "new information" will be released after he has secured his shares post the General Meeting. Wouldn't that be a coincidence......

I agree, and will vote against the resolutions with my large shareholding. The previous rights issue was 3x subscribed demonstrating huge support from the shareholders, many long standing and long suffering. There was no reason to allocate these deeply discounted placing shares to the Chairman and friends waiving the shareholders preemtion rights.

Joined you at 1.92....

Looks like cheap shares for the boys, why does the Chairman consistently contrive to allocate discounted shares to himself? I will not vote to waive my pre-emptive rights as I would have subscribed at that price if asked. Why are the supportive small shareholders diluted?