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Great work @manjapra !!! Feels to me like the board and senior...

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Jazzasax

3,137 Posts.

383

20/03/16

09:07

Post #: 17320523
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Originally posted by manjapra ↑

Thanks Mac-- I shall do that
Perhaps another viewpoint to add in the spectrum is whether the company has been resorting to minority oppression -- http://www.conyersdill.com/publication-files/Pub_BDA_Bermuda_Rights_of_Shareholders.pdf

this document from the companies Lawyers in Bermuda would suggest that recourse to shareholders exists through either 1) derivative action or 2) minority oppression remedies if
fraudulent or oppressive conduct by majority shareholders, and breaches of fiduciary duty by controlling directors or promoters are demonstrated. I would also think that in addition to the other breaches discussed, the non release of the Genorah loan document and settlement and release deed by voting down minorities was an act of oppression and malicious attempt to cover fraud

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Great work @manjapra !!!

Feels to me like the board and senior management are extremely nervous, for good reason, and have very little time to make a play before this incredibly powerful minority group makes a very large new hole in their proverbial's!!!

NKP Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
8 Upvote

0 Great analysis

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