Time to organise shareholders and get some justice for us OXR I feel.
This genius idea as destroyed OXR shareholder value and transferred half your gains to ZFX.
We did not get a choice, that's what really gets my goat.
No sain OXR holder would have voted for the ZFX deal as it was in March and certainly not now.
Copper, Gold are down 5% and 10% from the levels in March yet Zinc is down about 30%.
Other zinc stocks are down on average around 30%. Based on that ZFX would be pushing the $7 mark. OXR would probaly still be $3.25-3.50.
The deal could have been done at 2-2.5times which might have got up with OXR holders.
The other issue that get my goat is that Owen is given $9-10million as a package to leave. I have no issue with that if we had the choice to merge, but since we were forced and had the share price smashed, I think Owen should be made to wait with the rest of us shareholders until the value is returned (if ever).
I suggest that his package be declined and only offer a package based on meeting future returns that OXR would have easily made had it stayed single or been taken over.
Heck I'd be happy to grant $15million as a package if it was based on something like a 0.01c exercise with strike of $6-7.
To give him money to jump skip and have a good retirement while destroying many others retirement plans really does blow.
OXR
oxiana limited
