Who can answer this question? Is it legal to ask shareholders to accept an offer like this without voting? ...without shareholders approval?
This is what Towners want... I am a major shareholder for TEG for a long time and I am not happy with this announcement... I have been reading this blog for a long time and it is the first time I write on it... we've been waiting and hoping for so many years with this PSC of TEG... this company had the perfect scenario... the raising star scenario... now we let this go for a few millions while it is worth a fortune to have a PSC like this for a company... It is even mentioned in the announcement that "in the event that the transaction is terminated, TEG will be required to pay a US5.0 million break-up fee" ...and we have not even voted for this deal yet because Towners want ASX and us to accept this without our votes... the TEG board thinks ASX will grant a free pass on this and they are afraid to ask for our votes because they know it is not the best deal... please tell me that ASX will not accept an offer like this without shareholders approvals? We should all write to ASX to inform them... one of my associates will write to ASX today... I am sure there was other offers and if there was other offers we need to vote on all of them... offers have to be displayed and presented to shareholders and they need to vote on the one that can help the company to continue to operate the PSC so it could become eventually profitable...
Please tell me...: Is it legal a deal like that without shareholders approvals?... is there someone that can give an advice on this... we have been waiting for so long for this PSC... and now the board gives it away like this... we need to vote and all shareholders have to say no to this deal... we need to change the board of directors also because they are only thinking about their own interests and not our interests... this is enough now...
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Open | High | Low | Value | Volume |
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13 | 7371000 | 0.005 |
18 | 19243614 | 0.004 |
37 | 37501338 | 0.003 |
13 | 24453500 | 0.002 |
Price($) | Vol. | No. |
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0.007 | 4399305 | 5 |
0.008 | 5841896 | 14 |
0.009 | 4173305 | 11 |
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