Jack,
As a member of the group I guess Im qualified to answer some of your questions. Others have supplied the link to an email . If you join the group, you can ask Xuan ( the hard working leader of the group ) or all the members via a mailing list any questions you need to ask about the current situation.
Do you need a certain amount of shares to join
No, just need to be a minority holder .
What are the advantages of the group?
A united front for negotiating the best (fairest) deal for our shares when Zinjin decides to buy out the shares it doesn't own/control. The board has no independent representation at all, but minority holders represent a large (blocking ) stake, and are probably entitled to at least two board members .
Is there enough to form a blocking stake, or can zinjin in some way walk over the top of everyone and just do what they want anyway?
The group well and truly has a blocking stake - if it chooses to unite and act as one . The exact amount is unclear because of a lack of transparency on the dealings between Z and Genorah. But its well over 20% .
The obscene and truly mind boggling delays in cleaning up the transfer of shares from Genorah to Zinjin , could be put down to incompetence or collusion . Or both. Whatever the cause, it will leave the minority share holders without a voice on the board and ridiculously undervalued share price thats been hanging well below 10c for a long time now . The longer it stays like this the easier it is for anyone wanting to make a low ball offer for the minority shares to justify their off . Somehow I can't see Zinjin ever selling their shares for 10c though !
- Forums
- ASX - By Stock
- NKP
- Big Sells
Big Sells, page-19
-
-
- There are more pages in this discussion • 57 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NKP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online