igc become a shell company, page-11

So what's the worst they can do to us if we vote NO.

The share price has gone from 50 odd cents to its near low of 20+ cents in a year. We have gone backwards on a merger/buy out proposal.

The share price can't go much lower of we vote NO. And if it does, it won't be just us small time investors that will lose out. I'm sure the top 20 including TS and directors and management who MUST have a piece of the PIE, won't be too happy to lose even more than they have lost already.

And even if we do vote NO, and we succeed, then we still have 15% of a significant tenement and resource. What option does NKP have? They can walk away (which I doubt as it may cost them the JV with Xstrata) or they can renegotiate the $60 mill, or if they knew that we were unhappy with the asset sale (as opposed to the money in our pockets) they may put pressure on IGC to GIVE US THE MONEY in order for the deal to get over the line. If IGC are unwilling to co-operate, then maybe NKP can decide to take over the board (or even take over the company. It wouldn't cost them any extra) and do what was suppose to be done from the start.

Maybe BEE won't convert their options now for a pathetic 7% profit and just maybe when the dust settles, we may get more than 39c per share..

VOTE NO...