Morganlofting,
>
> ML,
>
> I was wondering if you managed to lodge your submission to ASIC, and whether or not you have heard anything back?
>
> I sent off a letter to ASX, but I guess unless there are lots and lots of complaints received from shareholders, we might be pushing ..it up hill with a pointy stick.
>
> REQUEST FOR ACTION BY DISGRUNTLED SHAREHOLDERS
>
> I understand we need to send our letters to the Client Advisors whose contacts I think were on the ASX notifications about the suspension from trading, etc.
>
>
[email protected]. AND/OR.
[email protected]
>
>
> I would encourage everyone to express their issues about what is happening to this Company and the manner in which the processes playing out have left shareholders high and dry.
>
> We can't expect Doc to do all the heavy lifting and it matters not if anyone suggests to you; "You are wasting your time and energy, so don't bother!"
>
> What have you got to gain by copping or just accepting this arrogantly applied tactic from MIN, without at least having a decent crack at supporting and pushing back to protect our own interests? It is clear that no one else in and around Empire has made any effort on our behalf up to this point? Least of all the former CEO, and what a clever unit he has turned out to be?
>
> Please take this opportunity to express your views and complain about what is happening, and put your weight behind our call for an investigation into the affairs and processes put in place between Empire and MIN in the arrangements for the loan which has now become the ruining factor for all shareholders.
>
> Empire Shareholders have been denied the initial opportunity to be privy to the conditions and terms of the loan, and moreso they were not able to have the normal process of shareholder vote to endorse or reject the loan package. This occurred because the company directors/officials of Empire chose to apply for and were granted a waiver from the ASX of this important internal control process which is normally available to shareholders in the proper handling of such matters.
>
> There is strong opinion that this action would have been prejudicial and not in the best business interests of the Company or its shareholders. The waiver issued by ASX is seen by a number of shareholders to have been inappropriately expedient, and contrary to good business practice and shareholder protections which are ordinarily expected and obligatory from Company officials. The fact that the waiver was granted will be the subject of continuing investigation in the short term.
>
> Please take action and Do it now, while there is still an opportunity to do something!
>
> We need to have maximum participation and shareholder activism to bring about a suspension of the Receiver/Administrator juggernaught. Time and access is needed to enable shareholder representatives who are interested and willing to do the necessary digging and discovey, which may bring about some protection of the assets under claim until a better set of possibilities can be determined. If we do not fight the good fight now, then we will lose the lot!
>
> If this very questionable action from MIN against Empire shaeholders and the Company assets it is allowed to take its course unchallenged, or shareholders take the wait and see approach, it would be a very sad and sorry outcome for us all. MIN through their latest initiative would crush our company, and we would lose everything we have put on the line as shareholders.
>
> If you are a shareholder and you are concened about what has been put in place at the hands of MIN and our very ordinary Company officials, then please do your bit for the wider cause and take issue with the matter by writing to the contact given at the ASX.
>
> We may need to make collective representations to the ASIC as well.
>
> Thank you."
>
