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And the issue it we shareholders DO NOT KNOW what were/are the...

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Griffopj

823 Posts.

03/10/17

16:57

Post #: 27629313
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Originally posted by jake0002 ↑

"Who said we where in default"

clearly you Wabbit, did not read the announcement.
Mate, you don't have a clue.
You appear to blindly support the people whose stewardship has seen EGO, and the entire investment of EGO shareholders almost certainly disappear.
Yet you blindly attack fellow shareholders, and not those whose job it was to properly manage the financial affairs of EGO.

MIN can only send in the Receivers if there was, in their opinion, a Default under the Loan Agreement.
End of story.
A financial default is only one reason for a declaration of a Default.
There can be "deemed" events of default, like a Material Adverse Change event, which can cause a default.
That's probably what caused MIN to make that Declaration, and call-up the loan.

There is absolutely no doubt in my mind, that you have mislead fellow EGO posters in not declaring your association with people from EGO.
How about looking at this situation from an objective view.

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And the issue it we shareholders DO NOT KNOW what were/are the terms and conditions of the loan agreement because the BOD sought and was granted a waiver by the ASX not to put it to a shareholder vote. Bear in mind MIN could not have voted on the proposal.
I am still perplexed as to why MIN mever took up a seat at the BOD!

EGO Price at posting: 12.0¢ Sentiment: None Disclosure: Held
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