igc become a shell company, page-26

Hi Guys

Gee, go out for the day and come back to more postings than have been posted all month. LOL.

My 2 cents worth (about the current value of IGC by the way LOL).

Brenden.

This is an open forum, so therefore I do not have an issue of you posting your thoughts and comments on IGC. Even though you do not have any shares in IGC, you have a vested interest in that you hold shares in NKP.

However your original post (and right of reply): "Selfsell ,Ray ,Judge and all the other complainers ,thats the role of a director to direct the company .If you dont like what they do ,buy the company yourself .Then you have the right to manage it as you see fit .If you cant afford to buy the company ,get out and stop whining."

Was certainly uncalled for and out of left field. I feel your comments were over the top in relation to the thread and sentiment therein.

As YOU do, we also have the right to complain when we aren't happy about something. We do not need to buy the company to be heard as shareholders. One drop does not an ocean make, but combined with many others it does. Many decisions have been changed with the influence of few joining together as many.

I agree with you that in this economic environment $60mill does sound like a good result for IGC. What we are complaining about is the way the deal was done i.e 12 month wait, then 2 x interest free payments concluding in 2010. And no buy out, just sale of assets.

Your comment "the problem has been that the market has been less than generous to NKP's share price to facilitate the completion of the deal."

Is irrelevant to us and we don't care whether NKP's share price performance has been adequate or not, much the same as you don't care about IGC's current or future share price.

If NKP couldn't come up with the money in full, then the deal should have been broken. To coin the phrase that you said NKP should have either put up or "got out and stopped whining".

Without the deal, if IGC's share price is only worth 1/6th it's $60 mill market value ($10 mill being 6 cents per share) then so be it. But without the deal NKP will also be looked at unfavourably, especially by XStrata, who we all know NKP are relying on to provide finance.

So you can continue to persist on the IGC thread, but I don't think you on your lonesome is going to change shareholders minds (neither can I for that matter). But people are allowed to make their own choices and will do based on their own individual circumstances.

CONSTRUCTIVE CRITICISM. TAKE IT OR LEAVE IT.

In response to the IGC SHAREHOLDERS that TS will probably announce something just before the EGM, you can bet your bottom dollar (or 21c) on that happening. He would love to make us feel all warm and fuzzy, just before the vote. And maybe it will work. I certainly hope it's not a dividend again like CFE did as I actually lost money on that one (tax man, love ya.), and the share price has still not fully recovered. So whatever TS has up his sleeve may seem like a gift from god, it will be a temporary fix and will not see the share price move to such an extent that it WOULD HAVE moved in the event of the merger going ahead.

Sellier: You are probably right that the deal will get through. That, however is not a reason to vote yes, sometimes a NO vote is a protest vote (why do you think people vote for the greens, not because they think they are going to win the election... LOL) And yes, at these levels (21c) it probably is good value, because it hasn't been much lower.

Attn MODS: (Shouting intentionally for effect and in context).


Where would HIH and ENRON be if shareholders had spoken up earlier...