This shite just got real folks.
The company has spoken its intention ...that being to ignore nearly 10% of holders.
Last Saturday AS responded on behalf of the Board and I quote from an email from him after receiving the submission from this thread
From: Andrew Spinks [mailto:[email protected]]
Sent: Saturday, 6 May 2017 5:20 PM
To: (my name removed)
Cc: Robert Pett; Grant Pierce; John Conidi; Robert Hodby; Christoph Frey;
Subject: Re: Kibaran Board submission 6 May 2017
Hi (my name removed)
Thanks for your email and will revert after we have reviewed.
Regards
Andrew
Sent from my iPhone
Yesterday I emailed AS to urge him to follow through on the above ...nothing.
So the intention is clear. Remain silent. Hope they go away with the questions.
Even if next weeks trip to German is to sign up finance and a couple of new offtakes, you don't treat your holders like this ...it shows you have forgotten who you report to and furthermore you don't promise to respond to their concerns then just ignore them. All questions asked (including the recent additions in post above) are all valid and indeed requiring response. Even the market sensitive questions can be responded to diplomatically if only to acknowledge the question itself.
Proposition
Firstly let me state, many, myself included, never wanted to take this public for obvious reasons. But given the lack of response sadly there is no alternative.
Now, rather than go charging at the Board willy nilly, we need, ideally, a common plan of attack, the result of which will finally 'convince' the Board to change their communication approach and have them respond to the questions posed.
To that end, over the weekend and until the COB of Monday 15th, lets use this thread to suggest a range of actions and ask holders to feedback on what may be the best way forward. Can I also ask the Trolls to back off until next week. Yep yep we get it you told us so. blah blah..Next week please or start a new thread. We want to keep this thread focused not trying to fight 2 fronts simultaneously.
Look forward to hearing peoples suggestions over the long weekend. In the meantime here are some suggestions from holders I have received already:
- Shareholder Activism. Start a Shareholder Activism group. Publish the questions that were put to the Board. And publicly seek responses to the questions ..including the additional recent questions. This would include a call out to the Top 20 and potential seeking support for an extraordinary meeting and some replacement/new Board representation. Basically start a fight all the way to the next AGM irrespective of the outcome of this trip to Germany
- Perhaps the Boards and AS didn't believe the total number of holders that were backing the call for answers...so on this thread we provide all the Board members emails, post all the questions and in the 1st instance get all holders individually to show their support by sending the whole Board the same set of questions and the same call for an urgent Q&A session. Let them know what 10% of the register asking questions looks like when not aggregated
- Wait till Monday. But they would be close to getting on a plane ...again .....do that and they may never answer .
Cheers
564xxl
In case the company sees fit to make an announcement that largely deals with the questions between me hitting Post Message and COB Monday, thanks...on behalf of holders ......we will move on to discuss that response instead.
Oh and good luck in Germany in any case. We don't wish you anything but success in these meetings ....that and a new found understanding of the need to communicate better.
