Saving Alita & Our Investments, page-75

Hello fellow angry and out-of-pocket Shareholders,

I thought I would share with you my correspondence with KordaMentha to show that I, too, am willing to fight this dirty, dirty business.

What follows is my letter to KM and their subsequent reply.

Dear KordaMentha Team,

I am a VERY angry shareholder of ex-Tawana, ex-Alliance, ex A40, ex-Alita Resources LTD.

The prolific name changes of the Company say it all really... chaotic and desperate.

I invested the considerable sum of $115,200.00 in this shambles of a company(ies) and I wish to let it be known that I have registered to be included in any Class Action that has been set up with Slater and Gordon and with Maurice Blackburn Lawyers.

Mark Calderwood and the entire Board of Directors MUST be held accountable for what has been gross negligence and possibly criminal activity relating to non-disclosure of critical information/misinformation relating to the financial position of the company.

Whilst we retail shareholders were kept in the dark about the near financial collapse of the company, the CEO and BoD felt justified in awarding themselves ridiculous increases in their own remuneration. This is an absolute affront to everyone who has invested in this company.

I feel that I have been robbed. At 69 years of age, I cannot afford to lose such a huge sum of money. It has already had a severe impact on my superannuation, the standing of my SMSF and my retirement planning. I am very stressed by this situation and I want to see that the CEO and BoD are held responsible for the appalling way they have acted.

Copied below is the Commsec Confirmation of my purchase of 240,000 shares in Tawana Resources on 21/01/2018.

NOT HAPPY MARK, NOT HAPPY!

I would appreciate acknowledgment of this email and wish to be advised as to what further action I can take.

I trust that KordaMentha will live up to its stated Mission that:

We are an advisory and investment firm that helps clients throughout their lifecycle. We help them grow and maximise value. We help protect them against financial loss and reputational damage. And we help them recover value in tough times.

It is not Mark Calderwood and the Board of Directors who need protection, it is all of us who have invested our very hard earned funds into this shockingly mis-managed company. They have shown no regard for loyal shareholders. Here follows KM's ReplyDear

Thank you for your email.

I confirm that the Expert Report and Explanatory Statement will be published in early January 2020, which will provide further details of the Court process and rationale for the application to transfer shares.

If you have any queries or further comments once you have had an opportunity to consider the Expert Report and Explanatory Statement, please contact us at [email protected] or on +61 8 9220 9333 or +65 6593 9333.

I note that shareholders are entitled to be heard in relation to the application to transfer shares, including the opportunity to object to the application at the directions hearing on 30 January 2020. If you wish to be heard by the Court you must enter an appearance by 29 January 2020. See further details in the ASX/SGX announcement dated 20 December 2019.

Kind regards

Sam Broughton |

Manager

T +61 8 9220 9303
Level 10, 40 St Georges Terrace, Perth WA 6000, Australia
Website | Blog | LinkedIn | Twitter


I want to make a special call out to Macluvin83 just to say that I really do feel for you with your significant loss, but be comforted a little by the fact that are many of us even worse off, almost to a multiple of three!

We really do have to fight the Transfer of shares as hard as we can. I am in Brazil and it is very difficult for me to participate in any appearances or hearings but I will support whatever action a group of us may undertake.

Best wishes to all.
Lynx