Like many here I am starting to sell some BRN stock because no matter how much I like the company and its IP and its CEO, it seems it can not engage with investors (so why try the same thing again in US?!). I can hear the same sentiment in other posters here torn between hanging on for a change in sentiment, or flirting with shares from less admired companies. I have about 3 million shares and I don't feel that BRN should put me in this position where agreements have been made and I am left in the dark. I doubt very much that this behavior would be acceptable by US institutions buying ADR's.
It might very much suit the clients, but it does not suit the shareholders of the company. Moreover the EAP clients are quite likely common industry knowledge.
Unless there is an announcement by COB Nov 10, regarding these material agreements, naming names, I'll be asking the ASX to intervene in the ADR procedure to ensure that Australian investors who have hung on, are not disadvantaged by a big reveal of clients at a future date to support the sale of the ADRs.
Specifically I will be demanding that clients are named either straight away, or on a set future date to coincide with the ADR listing, and that date will be made public so we can invest with that knowledge.
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