I have just re-read the full "NOTICE UNDER SECTION 249D OF THE CORPORATIONS ACT" again. Golden are a bunch of unprintables. I sincerely hope that the board prevail totally in this long-running dispute. Not that "dispute" is all that appropriate since Golden have refused to discuss anything at any time. They just make demands and make life as difficult as possible for our board. If we get out of this OK then our directors will have earned every cent they get paid.
Golden it seems have a 25.89% holding in SMR. I don't know how they can, given that anything over 20% requires a formal takeover offer. I presume SMR is still beholden to Golden for loans. What is particularly sick is that Golden couldn't vote their holding in a formal takeover, but they can vote it in this sneaky theft attempt [ASIC, where are you when you are needed??]. If the board can beat off Golden again (they fended off an attack a couple of years ago) then I think they should go on the offensive and remove Golden completely. That would require I think seeking other finance so they can pay off loans, and then removing the directors that were appointed on request by Golden. I would of course vote all of my puny holding in their support.
Thank goodness that at least SMR is under Australian law. How well do you think this would go if SMR were under Chinese law???????
SMR Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
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