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Ann: General meeting requisitioned, page-14

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Crisis77

5,693 Posts.

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29/09/15

19:32

Post #: 16083136
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Originally posted by Dr Jonathan West ↑

To any RES shareholders who are HC "commentators". I have been an RES shareholder for nearly 6 years and they have a fantastic and have done pretty well to progress it to where it now is. The global commodity price crashes have not helped us, especially as RES was so close to finalising the funding for completion of all capital items required to commence production.

Now we are probably in serious trouble as it looks as though the predators are circling and about to try and take control of this company for a fraction of its real value.

'Pj has runs on the board but I suspect that he is in serious trouble with this "backdoor " manoeuvre by Noble to wrest control of the company.

Given the shareholding base of the company, I have a feeling that all independent shareholders such as ourselves will need to work as one and to collectively vote to oppose this back door attempt to replace the existing board and to put their own "patsies "on the Board.

I only have 100,000 shares but my entry price back in 2009 was 46c a share so I am more than "pissed"with where we are now and more importantly, about the prospects of losing my investment in what is still in a great resource (God forbid ..... 3 billion tonnes of easily accessible coal in a country where there are major power shortages and where they need to build new power stations).

I suggest that any like minded RES shareholders who are HC bloggers should seriously consider working together to try and stop this back door takeover and to protect our investment in what is a great resource. I admit that with the exception of PJ I am not greatly impressed with our current set of directors and I was actually going to vote against the re-election of Steve Matthews at the forthcoming AGM. However, in light of todays' development all that is out the door and I think that we need to quickly work together to oppose this first salvo by Noble ( they don't even have the courage to do it directly but are working through one of their other entities and having the hypocrisy to dress it up in one of the Sth African BBE companies is cynical in the extreme).

If other RES shareholders feel the same way I would be interested in hearing on HC and if enough of you are of a similar mind I am prepared to post my private email address and am happy to try and co-ordinate a collective response and rejection of what I fear is the first attempt to steal our company away from us and to not pay shareholders what it s real worth is.

I look forward to HC responses to my comments.

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I only have a small 500k but will vote against it.

On the flip side my investment has already turned to dust, what else can I lose?

Last edited by Crisis77: 29/09/15

RES Price at posting: 6.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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