There is no information in the 10K or 10Q about these shares that are being allocated to management and BOD. Extremely bad corporate governance by the BOD. I have found some information in the Merkur admission document, that Solomon and other managers were entitled to additional shares. However, this "liability" has not been reported in the Balance sheet.
The only positive thing about this dilution is that it is happening when the share price is low. So, it is not so costly for us to keep Our relative share of the Company. It also indicates that something is about to happen regarding spin-offs, otherwise I Guess these share had not been issued right now.
Page 56 in the admission document
25 The Company owes 266,667 Common Shares to Mr. Lee (7 years' remuneration in shares) that have not been issued as at the date of this Admission
Document.
26 The Company owes 96,967 Common Shares to Mr. Tan (7 years' remuneration in shares) that have not been issued as at the date of this Admission
Document
27 The Company owes 48,485 Common Shares to Mr. Chen Bor Hann (7 years' remuneration in shares) that have not been issued as at the date of this
Admission Document
