Forum Archive Index - August 2001

["Peter Maiden" <pmaiden@today.com.au>]

Rather odd announcement (below) from RMG today.

Sounds like someone has retired and was owed A$211.000 for 'expenses 
paid on behalf of company' and on on retirement was due a A$120,369 
'retiring gratuity'

To settle this $331,369 RMG have issued shares at $0.2351

Unusual thing to do? Short of cash at the time?

Any comments from RMG-ers out there? 

Must be a story behind this announcement somewhere.

The announcement - 

5. Issue price or consideration        $0.2351
6. Purpose of the issue (if            897,490 shares for
   issued as consideration for         reimbursement of expenses
   the acquisition of assets,          paid on behalf of company
   clearly identify those
   assets)                             511,991 shares on for payment
                                       of retiring gratuity


  --- Send the right message ---

        + Today freemail +   

Get your free, private email address at
       http://www.today.com.au     


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.