Here is one theory that might explain the UNHOLY rush to double...

Here is one theory that might explain the UNHOLY rush to double their share-holdings for free:

A "friendly" and off-the-record chat has been had with a company willing to lodge a takeover bid in the near future (and management are all ears). They would love the bid to be $1 but they know that the likely bid will be a 30% premium to the current SP, which might only be about 50 cents. So they've called this EGM to double their holdings, effectively giving them their dollar per share (or as close to it as possible).

Meanwhile, we retail shareholders are left stranded.

• If the resolutions are voted in, our SP may well tank below 30 cents by the time the takeover offer with the 30% premium comes in.
• If the resolutions are rejected, we will at least be around 40-50 cents when the bid is made, and we all get the same benefit from the premium. That includes management who don't get to double their pile of shares to cash in on this premium. And so they miss out on their dollar sale because they are in the same boat as us!

Vote no to all 3 resolutions to ensure that management are on the same playing field as us if/when the takeover bid is lodged!