I write further to this correspondence and the subsequent decision by Justice Mariana Yahya to adjourn the proceedings in the High Court until November 8.
• I understand through press reports that the counsel acting for Lynas advised the court that Lynas were in fact granted a Import License.
• I also understand that the Malaysian Attorney General Chambers is able to overturn the Ad Interim Stay order on TOL.
Whilst I appreciate that Lynas are attempting to be a party to the said proceedings and that this is being given due consideration by Justice Mariana Yahya, I would ask that Lynas clarify the following:
1. The AELB and MOSTI are in a position to apply to the Attorney General's Chamber to have the Ad Interim Stay order overturned - so the question is are they going to?
2. Is there a basis to do so now or would there be after the decision on Nov 8 should it not go the Malay Govt and therefore Lynas' way?
3. Are Lynas requesting that the AELB and MOSTI do as such?
Whilst a strong supporter of Lynas Management, I must register my concern that Management should have advised shareholders the fact that the an Import License was granted and what the implications as such (which are not immediately clear), in their ASX release on October 8.
I am not a shareholder who expects Management to explain everything they do and why. I trust that Management have the interests of all Lynas stakeholders in mind, however such poor communication is becoming intolerable.
Has Nick Curtis considered conducting some Press interviews so as to clarify some salient points with regards to Lynas and their operations in Malaysia, given the current state of affairs i.e. contingencies, efforts to minimise operating costs, current work which is still continuing etc?
As a shareholder it would also be useful to hear some background on the Counsel they have employed in representing the Company in the High Court in relation to the above matter.
I DO appreciate Lynas will be attempting to play their cards close to their chests. However, there are surely some more that can be done to alleviate shareholder concerns?
I look forward to your reply.
Regards
VVG26
LYC Price at posting:
71.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)