There is still more work to be done on pursuing BKN to act in the best interests of shareholders. . As mentioned earlier, I am still waiting for a response from the directors. I intend later to consider contacting Alleron Management, L1 Capital who hold substantial BKN shares who are unhappy as mentioned in the press. Of course. contacting Lite Speed the US hedge fund is a good step as they are reported in the press to have lost $11 million investing in BKN at $2.40. But these actions take time. Legal action is also an option for me and our investors to consider.
Meanwhile, you can assist by sending an ASX Complaint Form like I did and even send a complaint to ASIC especially on the issue of conflict of interest of chairman; and directors not acting in the best interest of shareholder in recommending an inferior offer. You can even contact David Chesterfield, the company secretary and express your concerns on the direction of the company. The more shareholders complained, the more the directors and executive of BKN will take notice.
It's rather a shame that fund managers losing a lot of money on behalf of their investors in BKN shares did nothing in the last month. Instead we have to take the initiate to urge the company to make the ASX announcement. But after all this, we are happy and delighted that the BKN shares have risen since the ASX announcement and all shareholders including the Asian and Chinese investors which I represent have improved their financial positions. But there is still more work to be done. So will appreciate all the help you and any Hotcopper BKN shareholders can provide.
BRADKENHOPE
BKN Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
