APAC letter to MLX shareholders, page-9

Reposted due to horrible formatting. Yes - I think that shareholders have a right to be skeptical about APAC's motives as only they know what their long term strategy is, whether its some nefarious motive like control or low ball takeover or a seat at the board to look under the hood for a future takeover or simply frustrated shareholders that want to stop losing money, is the thing we all have to balance here, and balance it up against current MLX management who have bet the future of the company on copper prices and turning around the Nifty operation.

I would love to know the story behind the head hunter who phoned Smith as described in Page 5 footnote 1 in that announcement:

1
ShorShortly after APAC Strategic served its Notices, Mr Smith was “cold called” by a person who introduced themselves as a “headhunter” and stated that Mr Smith’s name had been put forward as a director of MLX. Mr Smith thought it was inappropriate to talk to the person at that time because APAC Strategic had just sent the Notices and was waiting on a response from MLX as to whether it would support the resolutions. No request was made during the call for Mr Smith to participate in any interview and no further contact was made after that call by or on behalf of MLX with Mr Smith.

Going for the simplest "ocums razor" explanation that this was just a simple mistake of some "over keen"headhunter who was oblivious to the situation, and the rules surrounding this situation, then it would possibly be APAC themselves who are making misrepresentations so they had better be careful about that. If it was actually someone associated with current MLX management making the call in some sort of deliberate "gottcha" at Smith to suit their own agenda then that would be equally concerning. Although it seems like a trivial thing - maybe if someone can chase this down to the point where we can satisfy ourselves that one or both parties are telling the truth then it might be easier for shareholders to decide.

Disclosure: Have held ABU (now PRX) since the Pacific Road vs APAC war on the resister and while maybe Smith can't take all the credit, the performance of my long held PRX holdings have improved from where they were years ago where APAC took Pacific Road and ABU management at the time to the takeovers panel an won.