Well said mate. Keep up the good work. While you are doing what...

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buddy134

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12/12/15

09:33

Post #: 16599933
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Originally posted by asianmgt ↑

Good Question Buddy. It is a point of contention. In fact some legal eagles could suggest that the 75% rule should applied as the company is changing its core business activity by becoming a cash box.

If the company does become a cash box because of the "YES" vote, then more importantly did the Directors fail in their responsibility by willingly or unintentionally invite the Corporate Raiders onto the register?
Surly a smart Director would have considered the threat of a Corporate Raider.
It is not rocket science to consider the notion/strategy when you have weak management and no direction.

Corporate Raiders seldom have a pure intent other than to asset strip and leave the company as a virtual shell of itself. Should this scenario be developing, then I hope that the Corporate Regulator will activate it's authority and step in an consider an external review of the Directors actions.
The ASIC justification of stepping in? - The intention of the law rather than its raw application.

I imply, the Regulator can step in and defer the General Meeting of Metgasco on the 16th December 2015 if they so choose. All they have to do is analyse the ongoing changes to the register as I have done over the past 3 weeks. The intention of the new player is very unclear and somewhat confusing.
Yet they have spent a lot of man hours flying around the country shoring their YES vote demands without providing any detail of their direction or projects. Metgasco can not stay in the OIL and GAS sector, it is currently unviable for the foreseeable future of 18months..

The deep underlying concern is the potential corruptness of government OR the incompetence by Corporate Directors who are not capable persons. I ref to an article by the AFR Jemima Whyte "Professional Directors risk stifling growth". All of Metgasco sitting Directors have very little profitable experience and in my private view have stifled the growth of the company against the wishes of many shareholders..

I beseech all investors to make an issue of any wrong doing and to complain about Directors of public companies as much as the Media and Press do when it questions the actions of an ignorant politicians.

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Well said mate.

Keep up the good work.

While you are doing what you are, I am doing my bit by contacting different lawyers myself because I see it all wrong what has been happing to this company. Most importantly, unlike what the Board might do, all the time and money, if any, is coming out of my pocket.

MEL Price at posting: 5.6¢ Sentiment: None Disclosure: Held
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