I sent this email to the NRW IR department:
Dear Sir,
Today's settlement was an absolute disgrace that I can only attribute to either incompetence in the original signing/execution of the Roy Hill contract and/or spinelessness in the face of a better resourced adversary.
There were plenty of other options available to NRW, including undertaking a capital raising, that did not require you to do such a bad deal with Samsung.
This debacle has cost shareholders around $100m and has cost me personally around $600k.
Accordingly, I have voted my shares against all resolutions at the upcoming AGM and I will encourage my fellow shareholders to do the same.
Yours Sincerely,
Sean Bala.
PS. This is an open letter.
Ann: Supreme Court Decisions, page-57
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