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Ann: Date of AGM, page-22

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Rhazzle

1,224 Posts.

416

10/10/20

13:20

Post #: 47996841
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Originally posted by docmin24: ↑

Towie as I said it’s a battle to get a successful win but not impossible. But every holder would have to unite and of course want change need 50.1% to force a spill. Won’t be an easy ride doing this guys. Someone has to lead and need very big holders support. But if you are seriously keen to do this then seriously consider my points below. Even heed some warnings guys.

Firstly do not defame any directors or get personal as serious issues can arise. Have a VPN when posting and best not to own shares in your own name have them in trust by Mrs saves a lot of issues in my opinion. Can’t get money if own nothing. Just saying guys seen all these tactics before.

Firstly apply to get the share register from company from memory few hundred. Or sit at share registry which is free and painfully scroll down from A-Z noting all the biggest holders. Easy to take screen shots of each page. This is the quickest way to get the 5% to serve a 249D spill motion. Check with registry if photo can be used if not write top holders down. Need support from biggest holders say over 10 mil+ to start with and see where they stand. You need 5%.

Then if people still serious then start a fighting fund in trust and SH’s can donate to this cause and assist in covering expenses such as mail outs, collecting share registry and lawyers etc etc. The financial load has to be shared.

All posters please do not defame anyone as imo company could sue you, company has increased directors insurance recently and this concerns me hence why I want out of this stock. Too much bad blood in my opinion already just can see a messy fight into the future in my opinion. Legal costs are expensive. Company will in my opinion fight to protect their positions. Both sides don’t need a huge legal sheet fight in my opinion.

Caution to all. This can get very messy quickly and very costly. Also company will in my opinion immediately issue shares under corps act up to 10-15% via SPP and this could tip any chance of success. Obviously company supporters would only participate in this not the company changers. They would have already support from 42% so won’t take much to get 50.1%. Then game over guys simple as that. Plus most smaller holders wouldn’t be bothered to vote in any case. So that’s why I don’t think in reality this can be successful. Just telling you all the process I have personally experienced.

What I would strongly recommend you do first after you get 5% support is to immediately request a meeting with SB by no more than 3 of the biggest holders wanting change. Suggest Rob our SH spokesman if keen and 2 others of the initial 5% clearly present SH concerns and why LNY performance is totally unacceptable imo. Don’t wait till AGM complete missed opportunity and waste of time as you again will miss the boat as another 12 months will be much the same imo. I urge you to get this meeting ASAP. Smartest and most respectful way guys imo.

Test to see if SB will supports changes say at least 2 new board positions as we need greater independence and no more apparent conflicts in my opinion. Need independent market lease rent options. We need again in my opinion mining skilled, motivated and independent appropriately skill directors which are not again imo conflicted. Do this imo ASAP.

If SB won’t support and you wish to continue with spill then next step is to find 3 new directors, My advice get professional proven directors with successful track records. I can approach a few of these if this is what you want to do. Couple are already residing in Brisbane. No guarantees they would accept especially as I said before if SB won’t support. Mum and dad holders won’t cut it in my opinion. But seriously think about doing this as likely hood of success us small in my opinion. I would only support professional candidates and run professionally.

If you get a new team then of course they have to sell why they are better than the current team and why holders will benefit more. Etc etc.

Obviously a small team of like minded holders who want changes urgently will have to get each other’s info and be in constant contact. They are the ones to drive this and are SH’s representatives and voice. Very important the leaders are based in Brisbane area. Guys these leaders will have a huge amount of work to do.

Open a gmail account with VPN not a FB site. Communications must not be public. IP addresses easily obtain and legal letters easily sent imo. Just saying. Other holders can of course assist from other states. But first step is to see what the holders preferences are. If most not interested then don’t bother in my opinion.

I am happy to advise you guys but will not lead this. Been there done that several times and still my focus is exiting once mining is started. More to life than arguing over a life style company in my opinion.

But most of you guys believe and want to see the true potential of LNY realised. You have options but seriously consider an urgent meeting with SB this could save a whole lot of pain down the track. I strongly encourage you to get 5% first and have a 249d signed then meet with SB, show SB you guys are serious. So easy to achieved all this, can be done in a few days to get the signatures of support.

Imagine a seriously motivated new team who want to produce and developed LNY could be a truly great stock with so much potential but if the current status quo remain imo I just want out and hopefully before the BS replies from LNY at AGM. I can already imo see their responses. Way too many concerning issues from my perspective anyway guys hope this helps all the very best and again all in my opinion and DYOR. Time to act before AGM in my opinion.

Expand

Docmin your idea has merit.
A pre-AGM meeting by representatives of the shareholders makes sense.

At 72 I wouldn't have the energy to see it through gathering necessary info and to become one of the representatives/leaders.
Happy to attend in a supporting role if required.
Organising questions for presentation at the AGM I can achieve.

My trust/family hold in excess of 20m shares so my vote would be with the representatives.
We did make a start on this earlier and nominated Rob Kil to be the central rally point of contact.
I can see Rob being suggested as a director as part of this approach.
I can't speak for Rob but if he has the time perhaps he could assist with making this happen.
What do you think Rob?

LNY Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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