The investor group would like to clarify some points which seem to be misunderstood by some.Unfortunately some of those that have been misinformed are in the top 20,even in the top 10 on the GGP register.
1) the actions of the investorgroup have, in no uncertain terms, the best interests of the company at heart. The long term viability and profitability of Golden Gate Petroleum is our priority.If we cannot have this then this whole show is a waste of time.
2) the investorgroup is in no way preventing the company, nor is it attempting to delay GGP from accessing finance ! fact ! We welcome any finance which will help the company progress but, not to the detriment of the long term share holders whom are the believers and the back bone of this company !
3) All share holders are asking is a 6 month period of "non conversion" of the proposed notes ! Prospective note holders will still be able to earn interest from their investment in SRH #5 and also enjoy the expected share price appreciation into the future.If the company deems these notes is the only way forward, of which We have great trouble in coming to terms with this claim,surely an escrow period on the conversion is a more than reasonable ask ?
3) It is obvious to most, the noteholders have only one aim in mind and that is a quick buck.Noteholders is probably the wrong terminology in this case? traders may well be the case?
Quite unbelievable terms in favour of noteholders that have never been seen offered by any other company.
If GGP can`t giveaway notes on these terms even with a 6 month escrow period then questions need to be answered by management as to why!!
These are just some of the topics which We feel have been misunderstood and sadly, wrongly described to some of top holders in the company.
It has been three weeks since the general meeting in which the company changed terms on the convertible notes and, announced to shareholders present, of a rights issue.
Once again noteholders are being preferenced before long standing shareholders. Why has the market been well informed with the convertible note issue and nothing about the rights issue ?
GGP will never be able to be built on the foundations of short term notes with people who have no interest in being around for the long term future.
