BRM 0.00% $2.53 brockman resources limited

stop being a spectator, act now!!, page-4

  1. 2,333 Posts.
    I'm no good at letters but desperate times call for desperate measures. I wrote this and sent it to all the people.

    Dear Sir/Madam,

    I am a shareholder in the Australian company, Brockman Resources (BRM), which is currently subject to an all scrip takeover offer by Chinese limousine company Wah Nam.

    Wah nam now have over 45% (from 23%), receiving takeover acceptances from offshore 'investors' even though the value of the WN scrip over the past 6 months has predominantly been below the BRM share price. This makes no sense at all and proves to me that the takeover is a complete farce. Furthermore the Wah nam scrip has virtually zero liquidity, so even if a genuine shareholder accepted the offer they would be unable to realise any value in their Wah Nam shares because there are no buyers. It is obvious to me that Wah Nam has used associate offshore companies to buy BRM shares and then accept into the takeover offer. BRM is an Australian company and there has been virtually no acceptance by Australian investors, only 0.12%.

    As an Australian, I find this an outrage and extremely distressing to watch. I simply cannot believe our regulatory bodies such as ASIC, FIRB, takeovers panel, and government are powerless to act. Please help to stop this Australian company from being stolen. The Chinese have no regard for Australian shareholders or Australian interests. If they get control of Brockman Resources they will simply steal our iron ore and send it to China. Australian shareholders will see no returns. The Australian government will see no revenue. Don't let this happen. Don't allow the precedent to be set for many more Australian companies to be stolen by the Chinese in this way.

    Regards,
 
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