Metal Tiger have requested an EGM to vote on spilling the Board. This was called on 15/11/17. The Kingsgate response came out on 01/12/17. The EGM will be held on 09/01/18.
Given that this was initiated by Metal Tiger, where is their formal submission for the spill motion? Surely this was prepared before the request for the spill motion. This only leaves some spin to make it sound good. Why have we not seen it yet?
The way I see it, no matter how it is spun, this is bad for Kingsgate shareholders (that don't also hold Metal Tiger shares, in which case, it's great for this cohort).
I suspect that the spill motion will be overwhelmingly defeated. I suspect that Metal Tiger knew this before they requested the costly spill motion (both monetarily and in Board distraction).
So, what's their game?
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