Contrary to your conspiracy theory, I for one don’t have a hidden agenda.
There is lots of non-factual material in your post that I would like to answer, but if I did I would be moderated. So I’ll stick with the facts, which is what you suggest.
ADDRESS. You think it is enough that investors should know the local address of FM’s agent in Australia - Sino Investment Services. I think investors should also know the address of FM’s business location in Mongolia, together with the membership of its board of directors.
Why in the name of fortune don’t they tell us those simple facts? Should take GCN's webmaster five minutes to add the information to firstmongolian.com. It seems a bit over the top to say, as you do, that “there are much more important issues to focus on in delivering shareholder wealth than the address on their website.”
INCORPORATION. Your post says that both First Mongolian Investment Holdings and First Mongolian Media Limited are incorporated in the BVI.
The website at firstmongolian.com originally said just this, but now the statement about incorporation in BVI has been removed. Perhaps that fact should be put back?
ASX LISTING PROCESS You criticise posters for not understanding the ASX listing process.
A bit of a short memory here. Think back to the listing of P1. Several posters said that P1 giving away P1 shares to GCN shareholders would not achieve the necessary shareholder spread under the ASX listing rules. These posters were lambasted for their ignorance.
Then the creation of shareholder spread, by giving away FM shares, was also proposed for FM (GCN announcement of 15th March). Again posters to HC pointed out the conflict of this proposal with the ASX listing rules.
What happened? On 19th March GCN had to withdraw their claim that giving away FM shares would meet ASX spread requirement.
So I don’t think it is reasonable for you to label the warnings of posters as ‘dangerous and destructive’.
P1 AND FM LISTING You assert: “Priority One will be listed on the ASX in the not too distant future and so will FM.”
Can I invite you to attach some time estimates to these facts that you say we should stick to?
GCN Price at posting:
3.1¢ Sentiment: None Disclosure: Held
