blowthewhistleMy understanding is that the 75%? is based on the...

blowthewhistle

My understanding is that the 75%? is based on the percentage of those that choose to vote and not all votes on issue.

Having spoken to a number of shareholders as well as Dr Jayaweera I am very confident that the shareholders who bother to vote will be in the vast majority vote for a change.

From your posts I get a mixed message, on one hand you seem very dissatisfied that the current situation and on the other you are concerned that the rights issue may fall into the wrong hands and then somehow the Directors can influence the vote. IMO the Directors have too few shares to influence the vote and given the almost total lack of Directors actual purchasing of shares I reckon that it is unlikely that they would now stump up to buy their rights entitlement and/or apply for any shortfalls.

My understanding is that Dr Jayaweera and one other shareholder have brought > 5% of shares to put themselves in a position to ask for an EGM.

Richard Hill's decision to retract his offer of reelection speaks volumes of the support that the purple circle have and the new Dr can expect.

We can not influence who buys the entitlement, we (including the Dr) can not prevent the entitlement from taking place or change its issue value.

The only thing that we can do is to vote for a change in the way the company is managed, consultants paid, holes drilled, news released and the raised $10,000,000 spent

Newbie Thomas