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Excellent point fooca. "Again, Treadstone Resource Partners are...

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Gwaihir

5,466 Posts.

4184

23/08/23

10:21

Post #: 69495583
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Originally posted by fooca ↑

I was expecting an announcement by the Company today but I can honestly say in all the time I have been investing, I cannot remember seeing an announcement to remind shareholders to vote and especially targeting those that may want to change their vote!

The announcement I was expecting would have been more in line with disclosure on what is really happening in Mali, why was Seydou Semega termination not announced, why our highly paid Managing Director couldn't go to Mali but we engage one of the largest international legal firms to discuss "good will" with the Government?

I struggle to think why anyone that has already cast their vote has been given a reason to change their minds; but
~ those that have already voted for the resolutions -- nothing has been announced, come to light, been made known -- would make me want to change vote
~ those that have already voted against the resolutions -- light bulb moment -- its not too late to change your mind -- unless that all elusive Corporate Transaction is going to materialise?

From their announcement:
"The proposed resolutions threaten to derail ongoing negotiation and put potential transactions at risk?
~ seriously, this is immature and is reeking of desperation.

IMO, If the negotiations that have progressed to date with Treadstone are that flimsy they are worried a change of the board will have an impact on them, then they (Board/Lowe) were never going to bring a proposal to the shareholders.
Again, Treadstone Resource Partners are working for Firefinch Limited and NOT Fraser, Hepburn, Gordon & Lowe!!!!!

Re: "The meeting convened at the request of a group of minority shareholders who are proposing resolutions to remove three non-executive directors on the Firefinch Board and appoint three of their own candidates at a time where the Company is at a crucial stage of realising its strategy or conducting a material return of assets to shareholders."

Firstly, let's talk about the assets being the Leo Lithium share held in escrow!
It is only by the fact that the ASX would not allow a waiver on the releasing the escrow shares after Firefinch Limited (being the current board) made the request to Leo Lithium to apply for their release, so we are fortunate are still discussing them!

I want to know which one is it?
Realising its strategy or conducting a material return of assets to shareholders?
I want to know how a change of Board will hinder/derail realising a strategy that will be decided by shareholder vote, again, see above "flimsy"
I want to know why the current Board is suggesting that a material return of assets will be threatened with a change of Board?

Yep, good reminder that those that have voted against can change their vote.

cheers

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Excellent point fooca.

"Again, Treadstone Resource Partners are working for Firefinch Limited and NOT Fraser, Hepburn, Gordon & Lowe !!!"

Why would anyone vote for a board who has kept the company in a trading halt for 15 months?

Gw

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
21 Upvote

0 Great analysis

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Excellent point fooca. "Again, Treadstone Resource Partners are...

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