So, SH we now have a watershed moment building as we approach the AGM.
Straw that broke the camel's back for me was trading 100m shares to an unknown entity at a 20% discount, leading to SP dilution, when we are "so close" to bringing it all together.....suggests we have at least 150-200m shares+ in the bank to defend the current Board & Management against SH challenge (my view).
If this trade was done without the knowledge of other major stakeholders, including the Brown's, that would be a problem.
In the alternative, I read the challenge from the requisitioning members as one that:
1. Seeks to shine the light on on the true state of play for all SH;
2. Seeks to implement new & appropriate globally oriented Board/Management skills to take the Project forward;
3. Establish a forward looking business & communications strategy;
4. Reward LT shareholders for their extreme investment patience;
5. Hold existing Board/Management to account for their performance v their remuneration
If the defensive effort by the current Board/Management yields support of 200m shares, the quick numbers might suggest that the challenge will be on a knife edge?
However, beware the Chinese, German or Institutional "white night".
If you support the challengers, then they will need all the proxies they can get, large & small.
I have been a holder since 2011 & will be supporting the challenge.
Simply my thoughts.
Jvest
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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1 | 227295 | 0.044 |
1 | 13000 | 0.043 |
1 | 1000000 | 0.042 |
2 | 90000 | 0.041 |
Price($) | Vol. | No. |
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0.048 | 60870 | 2 |
0.049 | 100000 | 1 |
0.050 | 6357261 | 5 |
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