portmanipulators, page-14

Goingbroke, you ask,

“Why would Portman bother going to court when they acknowledge their proxies will not change the outcome? Possibilities-pride, destabilize, buy time?”

In regards to the emphatic proxy vote defeat of Mr Richard Mehan that was released to the market:

Resolution 4 - Appointment of Director - Mr Richard Mehan
For 6,508,244
Against 59,998,703

IMO Portman did not lodge their proxy on the Wednesday with others (this would have been in line with their shareholder letter) as they were going to vote against the re-election of Mr John Lester by poll if the proxy votes were in favour of the two Portman nominees.

If successful then this would have resulted in a three man GWR board being controlled by two Portman aligned directors – a satisfactory completion to their quassi-takeover tactic.

Words like lack of transparency, ethics, substance and planning spring to mind.

With such an emphatic defeat by the proxy vote, the above is the reason I believe Portman are continuing with their court proceedings despite acknowledging their proxies will not change the outcome.

Divergent tactics are now being implemented to minimize Mr Richard Mehan and advisors their corporate embarrassment.

An added advantage is that I believe Portman and their warehousing friends are buying at these destabilized prices, “if Portman bought shares directly then I assume they will have to make an ASX release by the end of the week. If it was their warehousing friends then we will find out a later date when the share price is in the range of $1.85 to $2.00 - deja vu.”

If that is the case, then IMO that is sharemarket manipulation and yet again demonstrates their intentions to all other GWR shareholders.

Don’t be fooled, buy at these prices to return $1.85 to $2.00 in the short term - déjà vu.

Portman are not the white knight of the GWR share price, but they can be predictable.