FAILLACE NEW LETTER???
I glazed over as well, Init after the first impression of
‘Male Karen’ spam.
But then it got a bit clearer when I jumped to the end and read SMS’ legal letter that so-ruffled Drake’s feathers.
(FWIW a well known journalistic ploy - due to most people not coping with ‘esays’ - is to put the least important bits OR the parts one does not want people to read at the
end of an article.
In this case, page 23;
Here’s a cut and paste ofthe conclusion of that letter from SMN legal counsel - Gadens .
It was sent to Drake lawyers last Tuesday (25/10/22) about ’Drake’ statements on its public ‘requisition website’:
(It first enumerates specific examples)..
Gaden conclusion:
….”We note our correspondence to counsel for Drake dated 31 August 2022 where we asked that your client refrain from exaggerated, emotive language when communicating with CDI holders.
This is essential and in keeping with ASX and ASIC guidance as the Company has a large body of non-institutional CDI holders.
Communications with this body should be factual and efficient to limit the chances of misleading or deceptive imputations.
It is apparent that significant portions (if not the majority) of the Drake Letter are, at best,
misconceived.
As well, the language used in the Drake Letter is derogatory and inappropriate, which infects all statements in the letter.
It would be difficult for a retail investor not to be misled or deceived by this letter.
Our client requests that your client publish a statement on its website retracting the Drake Letter on the basis that it contains misleading statements and sends a further letter retracting the Drake Letter to anyone to whom it was sent immediately and in any event by 4pm EST tomorrow (26 October 2022).
If your client fails to respond within that time, has not published a retraction or publishes an insufficient statement in response to this letter, our client reserves its right to take action in relation to your client’s conduct without further reference to you, including making an ASX announcement correcting the misleading statements in the Drake Letter..”
Hmmmm?
(20min delay)