letter to amitan shareholders, page-9

My question is why the hell wasn't there an announcement on AGU regarding the proposed changes in the Amitan board - don't AGU own 40% odd of Amitan. I would have thought given their shareholding and the fact that they have a deal in place to take over Amitan in full they would have to view any change in the board as potentially negative or positive to the outcome of any future negotiations or even the takeover itself.

This is "PRICE SENSITIVE" news IMO.

I'm no rocket scientist but why would you change the board of a company that already has a deal in place to take them over in full unless there is a problem.

AGU directors need to be transparent to existing shareholders, future shareholders and the regulators.

Vautex - you raise a very good point regarding issued shares being held in escrow for 12 months plus. I would like to see it particularly with the Amitan takeover - the only way I would be happy to see the shares issued without going into escrow is if AGU can produce anything that values the company at what they were deemed to pay for it at the time of the takeover. I bet you my entire holdings in YRR, GPN and AGU (not worth much now!!) that they couldn't produce a single piece of credible evidence to support the takeover.

Hold but getting fired up now especially reading about the Amitan board changes on HC and not ASX Announcements....