Dear VXTR. I have been down this track before and make the...

Dear VXTR.
I have been down this track before and make the following observations in good faith.
You should not have declared your hand at this early stage.
It took me some six months of secret meetings and negotiations to corner over 38% of the voting shares. I travelled extensively and in secret. At the last minutes despite signing our deed, one shareholder with 9% pulled out at the last minute. So you can never be sure till the day.
The Legal costs were over $400,000 that was shared by the 29%.
You will not catch the Board off guard now that you have gone public.
To give you creditability you need to garner one of the top two shareholders. Let them do the leading and you will have a chance.
This expedition is like a 100 metre dash. The Board probably can get 40-45% of the shares, which means you are stymied.
Even if you can get the shareholder register -getting to the actual holders is a daunting task. Nominee Company staff are rude and unhelpful. Institutional shareholders don't want to rock the boat- they don't want to be seen as adversarial. I sat outside these nominee offices for hours waiting for a chance meeting after letters and emails went unanswered.
Once I got past 25% of shares on issue on side- more response was forth coming but only tacit- we sill send your proposal with no recommendation to our clients.
The other issue is abstentions. Institutions will more often abstain.
Finally what do you hope to achieve. Already you are really out of the ball park showing your cards to all the players.
KAR has three assets= cash (in US Dollars,), Peruvian exploration permits which are un workable due to force majeure and Offshore Brazil oil finds. Sacking the Board and staff will be expensive and counter productive. Each key person has a rock solid contract guaranteeing big payouts if there is a change of control. I take it none of your team speak Portuguese or Spanish.
These languages are needed if your team is to unlock the Peruvian assets and to reorganise/ re contract the work commitments for the Brazil assets. Don't forget some $330 Million is pledged with Brazil for work commitments in order to retain these assets.
The other big issue is that shortly there will be an AGM.
Some Directors will be up for re-election/confirmation.
You will not be able to get an EGM away given the AGM.
The EGM will have to be next year.
If you get an EGM there will be a proxy fight. You must lodge your proxies well before - thus allowing the Board to contact/challenge -to get the proxies withdrawn.
Unless you can show how you will do better than the Board your task will be in vain. You must explain how you are going to retain the key people.
You must explain how you are going to maximise the assets in a safe and reliable manner.
Given the complexity of the assets of KAR ,I don't think you can do this, without a top legal team, well skilled in the Corps Law' ASX Rules and KAR's Memo and Articles .
What you don't want is an expensive legal battle.