This is certainly a very expensive lesson for all holders and in many cases ex holders as well. I don't think in hindsight the ERM led spill did any good and they may well have been unable to run an O&G company.
I got out and it dented my belief in ERM as well.
I am not sure that all the regularity bodies did a great job in protecting minority shareholders throughout this company's existence. It has taught me a lot of lessons and cost a bit of money but nowhere near what a total loss would have. I am now very cautious of companies that threaten shareholders and the moment they want company legal to be present in meetings I am very often a seller. Its happened in another company and I got out there as well and that isn't doing well for shareholders. The moment management are at odds with shareholders is the moment I wont invest with them and get out.
I feel terribly sorry for shareholders here who have been through hell and then for this to happen. I am wondering how Wabbitt and the supporters of management are taking this as they did not want to hear anything against management but management seem to have let them down.
Add to My Watchlist
What is My Watchlist?