OZL 0.00% $26.44 oz minerals limited

I for one intend on attending the AGM to hear the rationale...

  1. 74 Posts.
    I for one intend on attending the AGM to hear the rationale behind Michelmore's MM deal. If there is opposition to the sale & it doesn't proceed this will force the executive to consider those alternative offers they have suspiciously turned down +- a capital raising. Although dilutive to the SP, I believe a change of management would eventuate once the debt is paid down, paid off and/or refinanced. Management already perceive derision to their tactical strategies to date.

    There more then just a shareholders best interest's scenario being played out by Michelmore & it is unfortunate that they consider shareholders to be little more then 'sheep' with respect to following the current sale proposal as being the one and only solution to the Oz Minerals debt obligations. One only needs to consider why the data room has been closed to further scrutiny by potential bidders to Oz's assets. The banks certainly are not concerned with how the debt is repaid, they are merely the creep vultures circling the carcass waiting for the Oz beast to roll over and die, (all the while making claim to acting in the best interests of their own shareholders), or are they. Commodities will rebound, Oz is making turnover and improvements in cash flow together with enough support and nurture, this wounded beast could come back to a healthy and sustainable life.
    That is, if that were the intentions of those in control!

    Together with Owen Hegarty's rather unique job offering, Andrew Michelmore's clear intentions to feather his own nest in a deal with Minmetals, one wonders why we allow these cheeky pair to get away with collapsing a sound company, selling off all but one prime asset & taking care of their own best interests ahead of the best interests of the Oz Min shareholders.

    The question is do we behave like 'sheep' at the AGM and give management what they are pressuring us into accepting, or do we see clearly their is something not acceptable in this MM deal & the outcome of Oz Minerals.

    My hard earned investment in this company has been devalued by unfaithful and near fraudulent actions of a few chiefs. Even by holding a few shares and voting No the shareholders can send a substantial message of opposition to this executive.

    Consider the substantial fall in value of your shares, the effect on Oz minerals employees & their families, the effect on loss of value to the Australian nation, surely apathy or viewpoints towards getting rid of current management pale into insignificance when you consider Australia's loss in mining assets & value to Chinese interest's, (no prejudice intended).
    This management are going to leave regardless of the outcome. (We can vote them out). The banking syndicate can work through a debt reduction plan in the best interests of all concerned.

    We as shareholders rightfully should disallow further scandalous activities from proceeding further into what Michelmore is manipulating into a definitive outcome. It's time to do what is morally and ethically right & make a stance against these oppressive actions. Consider YOUR choice thoughtfully.


 
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