Pinned straw:
Did anyone else notice the coincidental timing of the directors being issued 6.7m shares on December 1, 2023, funded by a loan from the company with a price of 12c/share and then what happened to the share price from the day they were issued ? From what I can see there is no escrow period on those shares.
Please excuse my ignorance.
I'm probably overlooking something very basic.
Would you mind elaborating on your post?
There appear to be two issues here:
1) The share price jump from the date of issue.
Im probably just a little slow, but do you see an issue with these shares and the share price rise?
2) Perhaps the shares issued should be held in escrow
Looking back at the last AGM I see:
"Resolution 3. Approval of loan funded share plan" and "Approval of grant of incentives" for board members.
I assume these were approved
Are you suggesting that these shares should have been held in escrow for 24 months?
The document from the ASX below, suggests under "Employee schemes" that these shares should be "restricted for 24 months from date of quotation"
Thanks in advance