suhr /watson grab at crown, page-46

Hi All, i quote from Worzel1
"Mark was in the advanced stages of finaising the details of a bid for Crown. This is a lengthy and expensive task that was initiated weeks ago ONLY to challenge the efforts of NC. The bid needed to be ready NOW because the EGM was scheduled to be held in two days time. Having it ready is one of the key reasons why the Forge deal was cancelled"

The SAG worked behind the scenes contacting fund managers and institutional holders both in Australia and in the U.S.A. We raised the issues of good corporate governance and NC's blatant conflict of interest and urged them to vote against the Lynas Forge deal. The SAG also lodged complaints with ASIC, ASX and the SEC in America.
We enlisted the help of the Australian Shareholders Association who kindly supported us with lobbying efforts and media articles. We also approached media outlets and tried to get as much exposure for the story as we could.

The legal action taken by Mark Suhr, ASIC's involvement and the need to amend the Explanatory Memorandum due to inadequate disclosure led to postponement of the EGM. When NC realized he did not have the votes from the institutional holders to get the deal over the line he backed down.

The final result was due to our combined efforts however Mark Suhr and Bob Watson need to clarify their intentions regarding Lynas and the Crown deposit. Is their bid off the table now that NC has cancelled the Lynas Forge deal?




regards




jukieoz836