Like Red Baron, I agree in substance with what L,B, K, H, and T, etc., have been saying regarding this latest 90m share grab by Mae's directors. I think that this adds up to another 5-10% of the company together with their annual $400-500K wages.
What can be done without further putting our investments further at risk? Very little it would seem,certainly nothing has been mooted as yet. This is the problem that needs to be address in my opinion.
L has made numerous complaints to the ASX, ACCC and so forth and what have they done? ........ still waiting on that one.
We the shareholders started mustering our voting power by calling an Emergency General Meeting last year but that didn't amount to diddley squat.
The new 'significant' investors/holders who have taken a sizable proportion of our company don't seem to mind, even if their own share diminishes like the rest of the older holders.
If we vote against this motion (90m options to directors) in the coming AGM does anyone honestly believe we will succeed? I don't.
Too much support, and I can't believe I just said that, for the road the directors have taken us and the possible path we now follow. My blood boils but what can we do collectively .....and still retain a chance of recouping our loses.
L, b, k, H, and T: You have nothing to gain or lose (apart from time invested and your own reasons) by putting your comments into this forum. Justification for doing so have been expressed and I must accept them without proof of alternative motives.
However, nothing you say helps in seeking a solution for those old holders who are trapped. We are trapped because the only viable solution offered is to sell and convert our paper loss to an actual money loss. For most of us these losses will be so significant that only a 10 bagger will assist down the track.....& they don't come up too often.
The other pathway is to see how this current company plan pans out. We know we are sitting on a reasonably large know resource; have the infrastructure in place to commercialize it if it can be produced out of the ground; have gotten someone who knows what they are doing (JS); and some banks after doing their own 'due diligence' with access to more information that mere shareholders have had; and directors who want more and more of the pie (because they feel they deserve it!)
Guys, if you want to help, how about assisting with a way that shareholders who have lasted the journey can limit the excess greed of these directors. The incentive based scheme sounds good but how can be put it, and any other suggestions, on the table at the AGM.
Looking forward to hearing responses. Regards, Bernie
MAE Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
