NO Consolidation - SUPPORT 249D BOARD SPILL

Time for a direct thread on this forum of "NO Consoldidation" and "BOARD SPILL 249D"..... Those who don't support, all good, enjoy the other threads re-flow test and consolidation.......

Thanks guys, for your encouraging support, growing daily.... With Epsom's very large 300+ mil holding, hopefully now many more will follow and support "NO Consolidation and Support a Board Spill"..... Sad, that we have to go down this path to save one's investment isn't it.... The last 2.5 yrs under 88's new management imo has been appalling. look at the SP chart since DW left SP 4.0c to 0.004 and SOI doubled from 12 Bil SOI to 25 Bil SOI, and all but 1 Dir (only 13 mil) own NO shares and almost doubled their obscene remuneration in this 2.5 yrs.... Disgraceful imo, time for change imo....

I now have to present 5% of SOI (1.24 bil shares) and have to sign my 249D to 88, thanks Epsom, I will contact you soon.... I would appreciate any SH, especially the larger ones to just type your number of shares held and that you support a board spill, thanks.... Gives me an indication of whether I am wasting one's time...

The procedure of conducting a board Spill 249D

CORPORATIONS ACT 2001 - SECT 249D

Calling of general meeting by directors when requested by members
(1)  The directors of a company must call and arrange to hold a general meeting on the request of members with at least 5% of the votes (I always ask for over 5% - 1.3 Bil to be safe) that may be cast at the general meeting.
(2)  The request must:
(a)  be in writing; and
(b) state any resolution to be proposed at the meeting; (these resolutions are removing all 3 current directors and nominate 3 replacing directors) and
(c)  be signed by the members making the request; and
(d)  be given to the company.
(3)  Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy.
(4)  The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company.
(5)  The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company

To be clear, this board spill won't happen whilst the flow test is going on, as takes time to contact and get support from SH's, especially from the overseas London/OTC SH's... Plus have to breakdown the nominees etc.... Would love to hear from our overseas large holders if anyone has contact. or if they read HC, maybe some are both 88/PANR holders can assist... I will initially canvas on proactive investors to test support, BUT the main way is contacting the large holders in writing/calls, which means correlating the large share register which is a cost to me. I will be working on this over the coming weeks.

Once I have good initial support from holders, especially the larger ones, (hopefully early Feb), then I will officially form a Share Holder Action Group (SHAG), Gmail account and then mail outs.... I will ask for donations (held in trust with 2 signatories), amount depends on level of support, to assist funding a mail out, only top 1000 holders to save costs.....

I hopefully will have strong support well before the end or after this flow test to present 88E with a 249D and then the process starts above ok... Simple process.... I will want a few helpers.....

The 249D spill should be before our next AGM (hopefully our new board presents our AGM) and this poorly timed SP destroying consolidation vote will be the catalyst for many holders to support a spill, imo many SH's will be furious after this flow test of not seeing their breakeven SP reached, due to 88 releasing this poorly timed consolidation prior to flow testing, damage done imo.... IMO the SP has absolutely no chance of rising above many SH's average price... Hope I am wrong but seen way too many previous company's badly timed consol's and never ends well for holders imo....

So, imo the majority of retail holders will all be on decent losses, thanks to 88 imo only focusing on the corporate brokers and very large Instos/SI's, NOT long-term mum/dad holders who will get absolutely slaughtered if this poorly timed consolidation goes ahead imo....

This is totally unacceptable to me and I am furious that holders are put in this terrible position, as we should be celebrating a possible commercial well, our very first, but our board imo are only focused on again raising money and want to do a big consol 100:1 imo and recklessly imo announced this prior to this flow test. Unbelievable state of affairs and is totally unacceptable to me and many SH's. Especially given that the SP does not impact most of the board imo, who don't hold shares.... Look at the damage done by this consol RNS massive shares sold at 0.004c prior to commercial flow test.....

They simply ALL have to go imo, straight after this flow test and we start a new team, new chapter of 88 where a board supports all SH's equally, with a focus of unlocking wealth and seeing an appreciating SP/MC, NOT destroying investors wealth and SP as what has happened over the past 2.5 yrs with doubling 13 Bil SOI added and SP 4.0c to 0.004c, absolute disgraceful company imo.... Just look at the SP performance and watch this after consolidating.....



HAVE A VOICE and SHOW YOUR SUPPORT...... All the best.......