email message sent to Leo Lithium Limited
Good morning
As Firefinch Limited is the currently the largest shareholder of Leo Lithium, this is a curtesy email to inform you that an action group has been formed in an attempt to address the concerns of shareholders of Firefinch Limited, specifically being the return of Capital (cash) and the return of the Leo Lithium shares held by Firefinch Limited that are currently in an escrow period, which ceases in June 2024.
As alluded to in Scott Lowe’s address to shareholders, it is only the Company’s intent to return cash and the LLL shares back to shareholders pending any commercial agreement achieved during the strategic process period.
Given the appalling lack of engagement / communications from Firefinch Limited with its shareholders, the non adherence to abiding by the 2 governing bodies of ASX listed companies, being the ASX and ASIC and the Company ignoring a shareholder candidate nomination for a Director to the Board of Firefinch Limited it has become necessary as shareholders to try and protect what little value that remains in the Company.
A group of shareholders of Firefinch Limited (holding 6.275% of SOI) has formed and have initiated the necessary actions preceding a possible s249D by submitting an Initial Substantial Holders notice to Firefinch Limited (personally handed to Trevor Harris at the Firefinch Limited office, emailed copies to both the registered email address of Firefinch Limited ([email protected]) and the public relations company engage by Firefinch Limited (being Citadel-Magnus, as emails sent to Firefinch are redirected to Michael Weir [email protected]) and emailed to the Market Announcement Office (MAO) of the Australian Securities Exchange.
The decision has not been taken lightly and is regrettable that shareholders have been forced into this situation, and I apologise (on behalf of the group) in advance for any (if any) disruptions to the ongoing progress caused to Leo Lithium Limited via investor confidence by these actions.
Personally, I opine, that by taking this action (come what may happens) would be an indication to the broader market that this would circumnavigate any attempt of a hostile (or other) take over attempt of Leo Lithium Limited by way of a third party attaining the Leo Lithium Limited shares held by Firefinch Limited.
Regards
(20min delay)