I believe @Neil1959 has already gathered c.150 "likes" as a show of hands in a previous post... was this presented to BPG?
My preference were threes shares are sold for CR purposes, like these convertible notes here.
Failing that, IMO, they should be returned altogether.
Failing that, IMO, they should be awarded on a 10 day VWAP SP performance basis;
50% issued at 2c
100% issued at 3c etc, something like this.
Issued on a performance basis would IMO provide SH confidence that management are working in everyone's best interest (not just their own) and also regain trust that a mass dumping of shares won't occur upon open. Additionally, out restores trust that SH have some voting power at AGMs/EGMs in the future.
That said...
The shares were issued as follows;
600m to Alvin
200m to Raphael
30m to Yano
The 30 mil to Yano, were split (from memory );
10m to his SMSF
20m to 'Fernjewel PTY ltd', a company he owns...
I'm not sure if/how it would be possible for the shares to be returned from a SMSF; there may be llegal implications around this?
Just my opinion, but in all honesty, I very much doubt we'll be seeing those shares returned.
Cheers
MSN
BPG Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
