Final Stand - Dissenting Shareholders vs BidCo/NKP

I have today sent the ASX the below, and encourage all other dissenting shareholders to call out the ASX on their fundamental lack of protection as an Australian regulatory body:


To whom it may concern


I am a long term shareholder in NKWE Platinum (“the Company”, I hold 804,500 fully paid ordinary shares.


Today, the company has announced that Gold Mountains (“BidCo” has received all necessary regulatory approvals and will now irrevocably move to perform an amalgamation of the the Company’s shares under Bermudan law which would involve the Company being de-listed from the ASX.


In light of the current offer for shares under the amalgamation at 10c, I had no choice but to join a group of “Dissenting Shareholders” who are jointly aggrieved with the proposed offer at 10c. That is, we feel that this offer is grossly undervalued by comparison to the true value of the assets of the Company as prescribed in a recent valuation report as procured by dissenting shareholders from a reliable, reputable and independent group from South Africa - being the origin of the resource.


My email to you now is not seek assistance in obtaining fair and true value, as we have been informed that the ASX are not willing to intervene where the Company is bound by Bermudan law - ironic as that is, given Mum and Dad investors seek protection by the ASX and Australian law when investing in their own country. This email request is for your urgent assistance in ensuring ALL shareholders, dissenting and non-dissenting, are compulsorily paid the minimum 10c under the amalgamation within the proposed 10 days following effective date, pursuant to the timetable as provided by the Company in today’s announcement.


BidCo and NKP have stated explicitly in their announcement of today (including previous announcements) that only “non-dissenting” shareholders will be paid following 10 days from effective date. What this means, is that dissenting shareholders will have ZERO protection from the ASX as to receipt of consideration due and payable following the suspension and subsequent de-listing of the security from the ASX. There are more that 400 Australian Shareholders forming the dissenting shareholder group.


In light of this fact, I am calling on the ASX for urgent intervention, including a freeze on the ability for the Company to be suspended and subsequently delisted from trading following the effective date as proposed under the timetable forming part of today’s announcement.


We have been offered no assistance or assurance by the ASX to date, and so now I call to you to protect Australian shareholders to ensure they cannot be squeezed by the 100% Chinese owned and Chinese government supported BidCo, ultimately owned by Zijin Mining Group.


As a husband and father to two young daughters, I am exceptionally disappointed in the ASX in the lack of protection offered to Mum and Dad investors on the Australian exchange, and that loopholes are able to be exploited by foreign corporations to the detriment of hard working Australians.


Your support in this matter is appreciated.


Regards


Chris