RE: Hardball negotiation30 Aug 2024 15:25
If I were the BoD and my aim (note the pun) were to prolong a pay cheque I would have raised via placing (TC's favorite topic) at the SH's expense (as confirmed resolutions 6 & 7 AGM report 26 July 2023 ) prior to the pending AR, subsequent suspension justified as 'keeping the lights on until sale neg etc etc'?
Arranging a bridging loan whatever you want to call it on the other hand has financial caveats that would need to be adhered to?
Obviously this would have dramatically comproised the SP say for example raised at 0.5p (TC's favorite number) but the point is the 'grift' continues and the BoD continue to recieve their unjustified ' monthly mammoth salarys'?
This may have been the scenario if we had seen the BoD selling and profiting massively prior to the Ukraine disaster, however this did not occur as the easiest and by AIM standards most usual way to process a easy wage one has to ask then why not?
'If it's a toss up between the BoD foregoing their monthly pay cheque until they actually sell something, or going into administration'