So I may have been asleep for the last week and not paid attention to what's been happening, but I received a phone call, like I am sure many of you have by now, regarding Brett Smith's appointment to the Metals X board. The management seem to have appointed an external agency to poll/influence the upcoming general meeting and voting of the resolution. The have advised that I should vote against Brett Smith's appointment as they consider this to be a soft takeover by APAC without having to shareholders the premium they deserve.
So APAC came on to the registry around 2007 they mentioned and now hold about 11% of the company (these are approximates). Do APAC hold any more board seats at current?
What's everyones feeling at the moment?
MLX Price at posting:
17.8¢ Sentiment: Hold Disclosure: Held
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