Ann: Settlement / buy back proposal, page-98

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buddy134

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07/12/15

22:40

Post #: 16564914
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Originally posted by buddy134 ↑

Jake0002,

In reply to that/this post of yours, I've made some research and I have to tell you that with anything within your statements, you couldn't be further from the real truth.

Lets just say that I rang a couple of lawyers and I have got the same answer from both of them.

Contrary to what you wrote, "NO"...none of us shareholders have any recourse whatsoever through the Government for what they did to us. The company has, BUT NOT US.

I have also been advised that, as shareholders, we cannot sue the Govt but only the company can. So, if we are to vote "YES", and that resolution is pushed through, then the Govt is released from all of it's obligations and the only thing left for us, IF ANY, is to sue the Board.

Yet again, I very much doubt that we would be able to do that much either simply because they can say that they have just acted upon the decision made by the majority of shareholders, and that is it. We will be left sucking on the dry end of an icy pole. NOT SOME VERY NICE THOUGHTS I KNOW, but that is the reality of it all.

And, like I have said in another post of mine, the Board has made use of some heavy silks and wigs wearers to give them advise on what to do and they know that, by following their advice, they are well and truly clear. Let me tell you that, they are not fools, and looked at all the ways and angles of getting away with it all, Scott free.

The only thing then that is left to us, is to lodge a request for a Sect. 249D and, if successful, to get rid of them.

In the next day or so, I have another call to another specialist Lawyer in regard to shareholders rights and will ask the same question. Whatever answer I will get, if any, I will share it with the Forum.

Finally, is Len Gill our Chairman the Chairman of any other oil and gas and/or energy company with some holdings in NSW, and, if so, is he going to recommend what he has recommended to us to the other companies.?? JUST ASKING!!!

In the meantime Jake0002, you should do your own research properly and share it with us.

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So....... to all and sundries, watch out in the way you vote and don't fall for what some outsiders and non holders are telling you. You do your own research and act accordingly.

I did...and will act accordingly to what I have been advised.

Make your vote count because you have only got one chance.....Full stop....

MEL Price at posting: 5.7¢ Sentiment: Hold Disclosure: Held
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